Bitcoin analysis + Dynamic Resistances in its way ( Sep2021 )
Hello to the large community of traders,
Remember that we are still in bear trend on the BTC Chart. But from July 26, 2021 strong bulls came and pushed price higher.
If bulls push price above the 20 and 50 MA, we may see 2nd leg upward. BTC has 2 dynamic resistances on its way for higher prices:
1) Resistance line of Bear Channel that has 75% chance of being bull flag
2) Long term resistance trend line
Wait to see if bulls consolidate above this resistances or not. After that wait for 2nd reaction to upper weekly Orderblock.
You can check my youtube channel if you want daily backtest on EURUSD Chart and price action tips. ( Daily Backtest )
**This is not an investment advice. Your capital might be at risk.**
You can support me by donating coins.
Give me your idea on comments...
Good Luck...
Remember that we are still in bear trend on the BTC Chart. But from July 26, 2021 strong bulls came and pushed price higher.
If bulls push price above the 20 and 50 MA, we may see 2nd leg upward. BTC has 2 dynamic resistances on its way for higher prices:
1) Resistance line of Bear Channel that has 75% chance of being bull flag
2) Long term resistance trend line
Wait to see if bulls consolidate above this resistances or not. After that wait for 2nd reaction to upper weekly Orderblock.
You can check my youtube channel if you want daily backtest on EURUSD Chart and price action tips. ( Daily Backtest )
**This is not an investment advice. Your capital might be at risk.**
You can support me by donating coins.
Give me your idea on comments...
Good Luck...
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