For myself, geometry trading has proven to be my most effective strategy in the arsenal.
To explain the chart above, each trendline represents possible support or resistance.
Therefore, I will remain bullish as long as BTC remains above the solid white trendline.
From that point, this becomes nothing other than a game of ladders. A break in one level generally means that a test of the next is likely.
To make this strategy even more effective, one could even add fib levels for additional support and resistance zones.
I hope this helps and good luck to you all!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
To explain the chart above, each trendline represents possible support or resistance.
Therefore, I will remain bullish as long as BTC remains above the solid white trendline.
From that point, this becomes nothing other than a game of ladders. A break in one level generally means that a test of the next is likely.
To make this strategy even more effective, one could even add fib levels for additional support and resistance zones.
I hope this helps and good luck to you all!
DISCLAIMER:
Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
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Descending Triangles are rarely a good thing.
Be careful
Be careful
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Directly Below this broken level is a major trendline that will likely hold a lot of support. Then directly below that is historical support line. Both of these area could provide a lot of support so that BTC can continue on its bull run.
However!!! Watch for breaks in the levels, as they can be very bearish signals!
Good Luck!