BTC has broken above minor resistance and retested as a support. Ranging within a symmetrical triangle with declining volume we could see a break in either direction but as long as BTC remains above $5,515 I am bullish in the short-term.
I'm also trying out something new to me in this chart: Fibonacci time zones. We'll see how that plays out.
I'm also trying out something new to me in this chart: Fibonacci time zones. We'll see how that plays out.
Note
And up we go! I didn't take this trade but if I had I would take partial profit at these levels and move stop to entry.Note
Had I taken this trade, the remainder of my position would have been stopped out at entry for a profitable trade overall.Note
Very interesting that Fibonacci time zone result (vertical dotted line on chart) coincided with the drop we just saw in BTC. I'll experiment with it further.
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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.