Bitcoin - 12MA And Golden Pocket Squeeze! What's next?
Happy Hump Day, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin has been under the 12MA and above the Golden Ratio / Golden Pocket and appears to have established a base during this consolidation phase since its last drop on the
5th of January.
Further push downwards would bring Bitcoin down to the 78.6% Fib @ $40,677 and the 84% Fib @ $40,418.
If no bulls show up, then it's down to the Green Horizontal Line support for Bitcoin at $39,650. And 1.136 Fib sits at $38,996, and 1.272 @ $38,343 would be the next levels down.
There now a higher probability for Bitcoin to rebound from the Golden Pocket and if it does, then the levels to look out for past the 21MA and the Red Resistance Trend line are:
50% Fib = 43,527
61.8% Fib = 44,094
78.6% Fib = 44,901
MACD: Bullish Divergence
Stoch RSI: (1WK TF) Oversold Region
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
Bitcoin has been under the 12MA and above the Golden Ratio / Golden Pocket and appears to have established a base during this consolidation phase since its last drop on the
5th of January.
Further push downwards would bring Bitcoin down to the 78.6% Fib @ $40,677 and the 84% Fib @ $40,418.
If no bulls show up, then it's down to the Green Horizontal Line support for Bitcoin at $39,650. And 1.136 Fib sits at $38,996, and 1.272 @ $38,343 would be the next levels down.
There now a higher probability for Bitcoin to rebound from the Golden Pocket and if it does, then the levels to look out for past the 21MA and the Red Resistance Trend line are:
50% Fib = 43,527
61.8% Fib = 44,094
78.6% Fib = 44,901
MACD: Bullish Divergence
Stoch RSI: (1WK TF) Oversold Region
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
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