BITCOIN: up to its PREVIOUS MAXIMUM HIGH LEVEL!
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🟢Forex Pair:
BITCOIN/USD
⚪Technical Analysis:
Since the 31st of January 2021, the price has been moving following a clear uptrend, after it got a really interesting bullish impulse on the level at about 32k.
The price moved up without any interruption, getting its first rejection on the level at about 38k. (I previously published an idea where I was confident to see the price collapsing down until the level at about 34k, but the bulls moved the price up, failing my first attempt to entry short.)
It is currently trying to reach the main resistance zone at about 42k, an important level already reached during the first week of January 2021.
🔴Conclusion:
The bitcoin is absolutely following a strong bullish impulse, but I'm still confident to see an upcoming trend correction, the level at about 42k could be a great chance to catch a good short position on this trade.
I'll be waiting for the price action around the main resistance zone before planning my short position until the S/R zone at about 38k (matching with the 0.38% of Fibonacci retracement).
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
BITCOIN/USD
⚪Technical Analysis:
Since the 31st of January 2021, the price has been moving following a clear uptrend, after it got a really interesting bullish impulse on the level at about 32k.
The price moved up without any interruption, getting its first rejection on the level at about 38k. (I previously published an idea where I was confident to see the price collapsing down until the level at about 34k, but the bulls moved the price up, failing my first attempt to entry short.)
It is currently trying to reach the main resistance zone at about 42k, an important level already reached during the first week of January 2021.
🔴Conclusion:
The bitcoin is absolutely following a strong bullish impulse, but I'm still confident to see an upcoming trend correction, the level at about 42k could be a great chance to catch a good short position on this trade.
I'll be waiting for the price action around the main resistance zone before planning my short position until the S/R zone at about 38k (matching with the 0.38% of Fibonacci retracement).
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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