$BTC - Rally in a downtrend
While the monthly and higher timeframes are still in a downtrend, I will look to sell rallies at key levels as setups form. On the daily, price has stalled out in a consolidation pattern. The weekly is forming a sell reversal pattern. However, I can see a push higher as outlined in the charts. Lower timeframe dips (4H) can provide proper setups/entries to test the upper resistance zones. Until the weekly makes it turn lower, bulls will remain in control. There will continue to be lots of great opportunities on both sides of the market.
The chart shows two fibs. One was drawn from the ATH high to the recent low and the other from the March 2020 rally. There is a fib confluence of the 38.2 of the first fib and the 61.8 of the second fib.
I've also shown two measured moves that coincide with the fibs/resistance zones. Now we wait for the market to show us where it's going. This requires patience and discipline. The money is in the waiting.
Remember, keep your risk low and manage your trades.
Plan. Execute. Next.
Trade Less. Make More.
The chart shows two fibs. One was drawn from the ATH high to the recent low and the other from the March 2020 rally. There is a fib confluence of the 38.2 of the first fib and the 61.8 of the second fib.
I've also shown two measured moves that coincide with the fibs/resistance zones. Now we wait for the market to show us where it's going. This requires patience and discipline. The money is in the waiting.
Remember, keep your risk low and manage your trades.
Plan. Execute. Next.
Trade Less. Make More.
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.