Bitcoin Flag Breakout on the 1HR?
Cập nhật
We have a nice bullish pattern lining up on this time frame after failing to form the right shoulder of an inverse head and shoulders pattern. Currently price is attempting to trade in a resistance area above the sub-sub fibo at $5839.20. Closing above this area can lead to a breakout of the flag at $5965. Be advised, bullish confirmation is located higher at $6055.
Targets to the upside are an hourly fibo extension at $6316 and a daily extension at $6864.50 (I would aim for $6700, see below). We have a previous daily fibo extension at $6421 for a more conservative target.
Breaking down and closing below $5722 can unlock selling to a range between the trading range support at $5590 and the sub-key fibo at $5537. Breaching below this area could test the bottom of the rising wedge line.
*Please note this is a high risk trade based on the daily chart:
We are in a potential crown reversal area, RSI is getting tired, and we have a red candle/doji that will need to be resolved before closing. Projected new all-time high is $6739, but we may overshoot to the fibo extension at $6864.50.
Targets to the upside are an hourly fibo extension at $6316 and a daily extension at $6864.50 (I would aim for $6700, see below). We have a previous daily fibo extension at $6421 for a more conservative target.
Breaking down and closing below $5722 can unlock selling to a range between the trading range support at $5590 and the sub-key fibo at $5537. Breaching below this area could test the bottom of the rising wedge line.
*Please note this is a high risk trade based on the daily chart:
We are in a potential crown reversal area, RSI is getting tired, and we have a red candle/doji that will need to be resolved before closing. Projected new all-time high is $6739, but we may overshoot to the fibo extension at $6864.50.
Ghi chú
Kissed the key-fibo and fibo extension...RSI is telling us the sale may be over...Ghi chú
Double bottom? If the that small key-fibo area is too strong, we will see a strong selloff to the next hourly fibo extension. This could breach the bottom flag line. Overall, the chart is bullish until we breach the rising wedge line and retrace fully to the trading range at 5100ish. From there we start thinking about margin shorting the market.Ghi chú
RSI is pointing up in the 15 min!Ghi chú
Giao dịch đang hoạt động
Đóng lệnh: dừng lỗ
At entry. We going to the fibo extension! :)Đóng lệnh: đạt mục tiêu
Reached fibo extension! I opened a small short position throughout the fall. This thread is closed!Giao dịch đang hoạt động
Looks like a reversal here... lets go long again?
Bài đăng liên quan
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.