Hello traders I am expecting a bearish ranging market for bitcoin before the "explosion" (to be verified) has to test a minor resistance zone before breaking below the trendline retest and the a drop down to the fibo 61.8 ,which is also a long term support area, where I would be expecting the next bullish impulse leg.
remember to always read the market while its...
A breathrough the weekly support will drive this pair in a more bearish scenario delivering two main tagets beforea possible rebound to test the next scenario.
LOOKING FOR A POTENTIAL SHORT ENTRY AROUND THE 1.0538- 1.0547 AREA TARGETING A POTENTIAL BREAKTHROUGH THE WEELKLY SUPPORT LEVEL AT 1.0518 FOR A FIRST PROFIT AT 1.0500 AND A SECOND AT 1.047.
also a...
Rejection expected to point A where price will be monitored seeking the correct signals to prove the idea right. Trade as planned long setting 50% profits on the first target and the rest on the second target at point C . At pint b look for proper continuation signals/ patterns. Trade according to money managment.
disclaimer these are not signals but just...
Ascending triangle pattern forming nicely on the daily chart, shift down to the 4H chart for a confirmation candlestick and take your trade long.
Obviously if the price closes under the 5363 or worse under 5338 level this strategy is not working.
please leave comments below.