If Bitcoin re-tests $6.9K and finds support at that level, a rebound may take price all the way up to the 61.8% Golden Ratio Fibonacci Level at $8970 and may even fill in the Golden pocket up to $9K.
Failure to find support at the re-test may open the doors to $6100.
Pink Descending Trend Line Has Been A Long Term Support Bitcoin.
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Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Failure to find support at the re-test may open the doors to $6100.
Pink Descending Trend Line Has Been A Long Term Support Bitcoin.
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
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$8484 at the 50% Fib coincides with the resistance descending trend line, an area of high probability of price reversal.
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$6.9K Re-Test Complete.
Next... price may consolidate in the blue triangle, continue to bombard that resistance trend line until it breaks and eventually follow the green parabolic curve.
If every plan fails, it's down to $5.8K-$5.6K (Green Support Bar).
Next... price may consolidate in the blue triangle, continue to bombard that resistance trend line until it breaks and eventually follow the green parabolic curve.
If every plan fails, it's down to $5.8K-$5.6K (Green Support Bar).
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Bump and Run Reversal
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Bitcoin is inching its way to $9K.
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Price has reached the 200 Day EMA and is pulling back. Pushing above the 200 D EMA will give Bitcoin the opportunity to push towards the $8.2K zone and potentially to the $9K zone.
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