Bitcoin is currently in a downtrend after a false breakout of the wedge pattern that stopped out buyers. I am waiting for a probable false break to the downside, below the daily channel (which will stop out sellers) which might extend to below 37,000 level and then a reversal to a take profit level of around 42500 which acted as previous resistance in the past and is also where the second trend line is.
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Like I predicted in the last post through God's grace, Bitcoin just broke above the denoted level and has been pushing in our favor for quite some time now...
Lets hope it gets to our TP. In the meanwhile, I will be going risk free once Price has moved half of my TP.
Happy trading, guys...
Lets hope it gets to our TP. In the meanwhile, I will be going risk free once Price has moved half of my TP.
Happy trading, guys...