BTC/USDT Hourly Chart
The Aqua Box is my new expected breakout area.
Finding resistance on the 50MA, once this is broken the next test will be the 100MA. These MA tend to coincide with the Trend lines I've Illustrated with the pink and yellow dashed lines. The formation of higher lows on RSI is also promising.
I'll enter once price has closed above my PINK down trend line and 100MA, setting a tight Stop-loss on entry.
Expected resistance lines, 7850 and 8400.
As always time will tell, the market is a forgive-less beast.
I'm only new to technical analysis and in no way shape or form give this as financial advice.
Please feel free to let me know if you have any ideas where Improvements could be made.
IRApTOIR
Finding resistance on the 50MA, once this is broken the next test will be the 100MA. These MA tend to coincide with the Trend lines I've Illustrated with the pink and yellow dashed lines. The formation of higher lows on RSI is also promising.
I'll enter once price has closed above my PINK down trend line and 100MA, setting a tight Stop-loss on entry.
Expected resistance lines, 7850 and 8400.
As always time will tell, the market is a forgive-less beast.
I'm only new to technical analysis and in no way shape or form give this as financial advice.
Please feel free to let me know if you have any ideas where Improvements could be made.
IRApTOIR
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