Bitcoin Double Bottom continues
Dear patrons,
This is my new analysis and update on BTC moving up in the chains. We bottomed out at 17650. On my last post I noted that I entered this trade at 17850 to hopefully get some solid bounce to the upside, and set my stop losses in the 17650 area.
Continued to today I am riding this upside, we clearly passed the neckline of the double bottom and now we have a new support. I moved my stop losses up to the zone where if the neck line breaks then we will have some profit.
Currently we are testing the 18800 resistance. Wait for conformations on the four hour candles to assume breakouts, etc.
Note: if you miss a double bottom, you can always purchase the breakout above the neckline (circled in purple). I also circled the zone of which I entered which is the bottom.
Another thing to consider on the chart, Red is stop loss, Blue lines are key supports and resistances. hopefully we can get some more upside to this trend.
Please like and share, my last analysis was pretty accurate, we can all make money together! happy trading :)
When a man falls he can get up, when a leaf falls it is stepped on.
-The one and only, fallingleaf
This is my new analysis and update on BTC moving up in the chains. We bottomed out at 17650. On my last post I noted that I entered this trade at 17850 to hopefully get some solid bounce to the upside, and set my stop losses in the 17650 area.
Continued to today I am riding this upside, we clearly passed the neckline of the double bottom and now we have a new support. I moved my stop losses up to the zone where if the neck line breaks then we will have some profit.
Currently we are testing the 18800 resistance. Wait for conformations on the four hour candles to assume breakouts, etc.
Note: if you miss a double bottom, you can always purchase the breakout above the neckline (circled in purple). I also circled the zone of which I entered which is the bottom.
Another thing to consider on the chart, Red is stop loss, Blue lines are key supports and resistances. hopefully we can get some more upside to this trend.
Please like and share, my last analysis was pretty accurate, we can all make money together! happy trading :)
When a man falls he can get up, when a leaf falls it is stepped on.
-The one and only, fallingleaf
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