For swing traders.
As you can see in the chart, BTCUSD formed a bullish pin bar today crossing the 100 SMA. If tomorrow's Candle (the arrow) is bullish and closed above the high of today's bearish candle, I would say that BTCUSD will go up to around 15000 before it falls again. Today's low level has the 100 SMA and the channel line as support and I doubt that it is going to fall directly from here. It will probably bounce back to around 15000 before it falls again to around 9000.
The strategy is to wait for the next candle and then decide.
I'm still new to this and I would appreciate your comments
As you can see in the chart, BTCUSD formed a bullish pin bar today crossing the 100 SMA. If tomorrow's Candle (the arrow) is bullish and closed above the high of today's bearish candle, I would say that BTCUSD will go up to around 15000 before it falls again. Today's low level has the 100 SMA and the channel line as support and I doubt that it is going to fall directly from here. It will probably bounce back to around 15000 before it falls again to around 9000.
The strategy is to wait for the next candle and then decide.
I'm still new to this and I would appreciate your comments