Swing Trade - Waiting on Breakout
Hello guys this is my first ever analysis as I've only very recently got into the world of TA, so forgive me if I use terms wrongly or if my analysis is incorrect / very basic.
I've identified the 3 Take Profit (TP) positions based on previous support turned resistance.
As of now, Bitcoin should be heading for a rebound till the possible breakout point, which should also be a safe entry zone.
Entry right now based on the 1 day charts to me looks highly risky and I would not recommend it.
If Bitcoin hits the breakout point, I expect it to go long, otherwise, if the support zones continue to be tested I expect it to go short.
PS. I wanted this to be a private idea, but I would very much appreciate more experienced traders on TA to provide feedback if possible. That would be very much appreciated. Thank you all.
I've identified the 3 Take Profit (TP) positions based on previous support turned resistance.
As of now, Bitcoin should be heading for a rebound till the possible breakout point, which should also be a safe entry zone.
Entry right now based on the 1 day charts to me looks highly risky and I would not recommend it.
If Bitcoin hits the breakout point, I expect it to go long, otherwise, if the support zones continue to be tested I expect it to go short.
PS. I wanted this to be a private idea, but I would very much appreciate more experienced traders on TA to provide feedback if possible. That would be very much appreciated. Thank you all.
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