Btc Fuel is Not Over Yet !!
Updated
Hi friends, Sharing weekly chart of Bitcoin, As we can see that price is looking in advance phase of reversal and breaking out resistance (mentioned neckline on chart) which earllier was a support for it before making a double top on provided weekly chart, and so i am looking a long opportunity for me, before breaking this neckline price did consolidation and taking resistance near to 25500 levels and after the breakout of that consolidation price formed a good support base near to 25500 levels. I belive that until price is trading above neckline resistance the possibility will remain to touched above marked targets on published chart mates.And this neckline will act as a good support for price now.
Retest Traders can wait for a retest bounce.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
Retest Traders can wait for a retest bounce.
This idea is meant for only educational purpose this not any kind of trading or investment advice.
Best Regards- Amit
Note
By the traction of price towards support area it is indicating that price is going for a breakout retest, Added a new support from where it can bounce before doing breakout retets friendsNote
Price reached to resistance target one and took resistance from there so far, We can see a fresh buildup of momentum above close of this resistance target one friendsRejection view on smaller time frame
Note
Yesterday closed above resistance target one, i think a break of resistance and cloing above too will give more bullish strength to price towards above marked targetsNote
Hi friends, As we can see that after completing resistance target one of 36359 from 34713 levels and now price is good up from target one, price taking support from that resistance after breakout of resistance target one and did not gives a single close below that as assuming that level is support for it now. So now marked a fresh resistance which stops to go up towards target two if it will break fresh resistance and close above by the day candle too we can see fresh momentum again in BtcNote
Hi friends this updated is related to update above as i marked a fresh resistance in update above so today it is first time that price surpass that resistance but not able to gives a day close above so far Note
Hello friends so here i am sharing update about breakout of resistance mentioned in update above, So as we can see that before or after update above it took many attempt to break marked resistance in update above after completing the target one, but in yeterday's session finally price break that resistance and reached almost 39000 levels from 34700 levels and now moving towards marked target two aboveNote
Great move after fresh resistance break price reached 40800 levels from 34700 levels and firmly moving toward target two.Trailing Stop loss update-: Mainly i am updating this idea for trailing stop loss so now after this nice gains i am taking my 50% profits for rest position will trail stop to cost price and now from here will update idea only after the completion of next target, Thanks for reading and supporting publication friends !
Note
Target Update-:Hello friends i am happy to share another big target in BTC completed today of 43000 levels from 34700 levels and taking some gains too here rest keeping for last and final target, This trade idea worked very well for me which i published as a follow up trade idea on BTC after earlier publication on it, Cheers mates !!
Technical point of view now after this target-:
As you can see i took resistances as targets so if price will close above resistance target two we can see third target very soon as it will be a fresh breakout for many traders i think
Note
Price reached 45800 levels from 37400 levels gained 29% so far and recaching very close to last and final marked target three for this idea mates, Apart of this i want to share an important technical update and that is price breached a strong resistance above target two from where it got rejections several time after the completion of target two and by today's candle it broken out that consolidation and moving forward toward final target. So now from here if price will close above marked strong resistance we can see final target very soon friendsTrade closed: target reached
Target Update-:Hi mates, friends and trading community happy to share final target update for this publication so price reached 46900 levels from 34700 levels. So as usual i believe less and quality trades i had faith on this idea and finally it did it. The biggest thing i felt after publishing this idea that price did not come again the publishing price until the final target arrived. Cheers mates !!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.