Happy Icy Texas Friday, Traders!
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.
==============================
After being rejected at the Red Resistance Trend Line and its 21MA, Bitcoin has dipped down towards the support lines, and the support bar.
Three things can happen now...
A: Bitcoin bounces off the green horizontal support bar and move back up towards its 21MA and resistance trend line.
B: Bitcoin could continue crawling downwards inside the falling wedge.
C: Bitcoin could break the Green Horizontal Support Bar and dip further down towards the Blue Horizontal Support Bar.
Fib levels below to watch out for:
1.136 = $35,601
1.272 = $31,603
1.382 = $28,369
MACD: If ALGO manages to keep its level above 2285.31 then it will maintain its Bullish Divergence against the price action.
Stoch RSI (1Wk TF): Take note that the setting on this chart for Stoch RSI is set on the 1Wk TimeFrame.
Stoch RSI on this chart is still at the Oversold Region.
My conservative move on Bitcoin would have to be to wait for price to go above its 21MA and exit the resistance prior to entering a long position.
Price action is KING!
Always remember to place your Stop Loss.
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.
==============================
After being rejected at the Red Resistance Trend Line and its 21MA, Bitcoin has dipped down towards the support lines, and the support bar.
Three things can happen now...
A: Bitcoin bounces off the green horizontal support bar and move back up towards its 21MA and resistance trend line.
B: Bitcoin could continue crawling downwards inside the falling wedge.
C: Bitcoin could break the Green Horizontal Support Bar and dip further down towards the Blue Horizontal Support Bar.
Fib levels below to watch out for:
1.136 = $35,601
1.272 = $31,603
1.382 = $28,369
MACD: If ALGO manages to keep its level above 2285.31 then it will maintain its Bullish Divergence against the price action.
Stoch RSI (1Wk TF): Take note that the setting on this chart for Stoch RSI is set on the 1Wk TimeFrame.
Stoch RSI on this chart is still at the Oversold Region.
My conservative move on Bitcoin would have to be to wait for price to go above its 21MA and exit the resistance prior to entering a long position.
Price action is KING!
Always remember to place your Stop Loss.
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
Commento:
61.8% Fib Reached:
