Risk: low
Hi followers,
I provide you with an update for Bitcoin, because it broke out its old channel today. (dotted line) What we see is a possible new channel for coming weeks. (Blue lines). If we close below the new channel, then it is very likely that we will see a larger correction. If we get signs of a larger correction, contrary to other coins, I'll not short Bitcoin, because it is so bullish and it is still gaining popularity all over the world.
Bitcoin perfectly bounced the 38.2% fibbonaci retracement level (Not on this chart)
Buy: At the bottom area of the channel.
Sell: In the area at the top of the channel.
SL: Below trading channel. (Be aware of a quick spike coming days)
Support:
Channel line (Blue)
17821 (Fibbo)
At the time of writing, I just expanded my position in BTC.
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome.
Hi followers,
I provide you with an update for Bitcoin, because it broke out its old channel today. (dotted line) What we see is a possible new channel for coming weeks. (Blue lines). If we close below the new channel, then it is very likely that we will see a larger correction. If we get signs of a larger correction, contrary to other coins, I'll not short Bitcoin, because it is so bullish and it is still gaining popularity all over the world.
Bitcoin perfectly bounced the 38.2% fibbonaci retracement level (Not on this chart)
Buy: At the bottom area of the channel.
Sell: In the area at the top of the channel.
SL: Below trading channel. (Be aware of a quick spike coming days)
Support:
Channel line (Blue)
17821 (Fibbo)
At the time of writing, I just expanded my position in BTC.
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome.
Komentarz:
We broke the channel downwards, I''ll keep you updated for new buy levels.
Komentarz:
Finally, a healthy correction. This isn't a crash, but a normal correction. New support is 15700. (Trend line and 50ma) Buy when other people panic. I bought a position again.
