Looking at the 1 hour chart we see that bitcoin is still trading inside the trend channel outlined in my previous post linked below (Anything Is Possible). Here we take a close up look at the action.
Directly below and above the current price are fib confluence resistance and support levels which I predict we will continue to trade within. A high of $11620 takes us right into major resistance in the form of the upper trend channel resistance, short term Fibonacci confluence resistance, and the long term 50% Fibonacci retracement level. This would be the ideal point for a probabilistic reversal.
Once we head lower we should find support at $9630 as we run into the lower trend channel support and our Fibonacci confluence support level. Will revisit that situation once we get there.
Short Entry $11600, Target $9630.
Directly below and above the current price are fib confluence resistance and support levels which I predict we will continue to trade within. A high of $11620 takes us right into major resistance in the form of the upper trend channel resistance, short term Fibonacci confluence resistance, and the long term 50% Fibonacci retracement level. This would be the ideal point for a probabilistic reversal.
Once we head lower we should find support at $9630 as we run into the lower trend channel support and our Fibonacci confluence support level. Will revisit that situation once we get there.
Short Entry $11600, Target $9630.
Dagangan ditutup: hentian tercapai
Stopped Out
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.