BTC/USD Approaching Pivotal Decision Moment

31 mag 2020

In this idea I will explain the recent price action of BTC and show you how to prepare for its next move.

Currently we are witnessing a bearish retest on the S/R flip. Support and Resistance levels can usually be re-used after the price broke through. A level that used to be support, and turn into a level that can be resistance. More so than historical price action, these levels show that trades care about its existence.

Right now, BTC is hovering around this point again of breaking through such a support or resistance. This is a pivotal moment where a break out in any direction be utilized. If we see it breaks out north and the price goes up. We can expect prices as high as $10,000. However, if it breaks down south, price of $9,300 are more realistic.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

1 giu 2020

Trade chiuso: obiettivo raggiunto

This idea worked really well! Indeed we found that the price dropped below the boundary and then continued to drop to the support zone.



Congrats to everyone who earned a profit out of this!