BITCOIN UPDATE - PARALLEL CHANNEL
DESCRIPTION
RESULT from last previous idea: Looking at the updated trade progression of last post, it was observed that the Forecast failed to reach the proposed support line reversal at $8,956 which rendered the setup invalid.
Meanwhile, we have been experiencing some tight price movements at the moment within the horizontal channel that brought it to the levels between $9,280 to $9,050 price range. if this trend continues like this, we might end the month at a high side with prices around $9,300 or on the low side with prices around $9,050.
However, I'm currently watching for the $8,956 Horizontal Support Line (Green), if it gets crossed, then a Long position will be first priority.
We believe this Bitcoin move to be a real reversal and prices can start to go up.
I'm probably hoping that the upcoming month of August will be a bullish month for us all.
What's your take?
Share with us in the comments section below.
Don't forget to like this awesome post here and follow @CryptoPrinceTrades on Telegram.
Thanks you,
Evans
RESULT from last previous idea: Looking at the updated trade progression of last post, it was observed that the Forecast failed to reach the proposed support line reversal at $8,956 which rendered the setup invalid.
Meanwhile, we have been experiencing some tight price movements at the moment within the horizontal channel that brought it to the levels between $9,280 to $9,050 price range. if this trend continues like this, we might end the month at a high side with prices around $9,300 or on the low side with prices around $9,050.
However, I'm currently watching for the $8,956 Horizontal Support Line (Green), if it gets crossed, then a Long position will be first priority.
We believe this Bitcoin move to be a real reversal and prices can start to go up.
I'm probably hoping that the upcoming month of August will be a bullish month for us all.
What's your take?
Share with us in the comments section below.
Don't forget to like this awesome post here and follow @CryptoPrinceTrades on Telegram.
Thanks you,
Evans
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.