28800-41500 Trading Range Back in PlayThe trading range from 41500 down to 28800 is once again in play. The market has settled back into this range, but has yet to retest the bottom of the range. Currently there is a 2-day balance area forming at the top of the range, after Friday's breakout through the downward trendline from all time highs.
I'm not looking for a breakout here. I expect the market to auction down through the range in the coming weeks, finding buyers near the bottom.
The fact that the market has once again returned to this range leads me to believe that this is currently the fair market value for Bitcoin.
Bracket
FKLI TRADING : 133) this is trade 133 frm haidojo trading...
the current low of 1547/or the impulse leg A has been violated...so both advanced patterns are no longer valid...
In term of price-action, 1560 has turned frm support-to-resistance...but formation of lower-low at 1540 is too close to the previous one...
from the past experience, this might indicate a possible reversal to the upside...but it is too early to say...we must look closely to the range
of 1585 and the new low 1540...any breakout of this range will tell us the direction of the market...
resistance : 1585 (reversal to bull)
immediate resistance : 1560
current support : 1540-1547(continue to bear)
lower support : 1512-1520 green box and bullish cypher pattern
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
**your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ**
FKLI TRADING : 129) still in the bracket 1605 - 1512this is trade 129 frm haidojo trading...
- the bearish bat pattern is somehow still valid..with range to short frm 1597-1605...SL a few points abv 1605...1st tp 1587,
2nd tp 1560
the tighter range is 1585 - 1560...and the TREND is still DOWNTREND...short on rebound is still valid...
higher resistance : 1598- 1605 red box and bearish bat pattern
current resistance : 1585
current support : 1547-1560
lower support : 1512-1520 green box and bullish cypher pattern
WARNING!
RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures or forex might incur a huge risk to your account/funds…DON’T LOSE MONEY THAT YOU CANNOT AFFORD…any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
**your "LIKE" and "FOLLOW" are my main source of motivation to continue posting more valuable contents...TQ**