Daily Bitcoin Update - E02
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Hello friends! This is my daily Bitcoin update. I will update you at every price event, so make sure you get notified by following me. If you would like to see more trading ideas like this, please click the like button!
The price of Bitcoin (BTC) is sitting at an important Support Zone (Purple Box) and is also tied between the MA 200 for long-term trends, and the MA 20 for short-term trends. The MA 200 acted as an additional support a few times. In anticipation for a repeating pattern, we can aim for the resistance line of the descending triangle as a possible target. This scenario is confirmed if the price closes above the MA 20 (approx. 7250.00).
Cheers,
cryptobuller
The price of Bitcoin (BTC) is sitting at an important Support Zone (Purple Box) and is also tied between the MA 200 for long-term trends, and the MA 20 for short-term trends. The MA 200 acted as an additional support a few times. In anticipation for a repeating pattern, we can aim for the resistance line of the descending triangle as a possible target. This scenario is confirmed if the price closes above the MA 20 (approx. 7250.00).
Cheers,
cryptobuller
Nota
The price did not manage to close above our confirmation line and instead dropped below the MA200. I will update this idea today!Nota
This idea worked out quite well, beside the liq. move to 6840.00
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