Bitcoin has now again formed a falling wedge (Bullish Bias) as it held good support at the $7.1K - $7.2K range (Blue Rectangle/Bar)
RSI has a Bullish Divergence
Initial Upside Breakout Target Price: $7467 @ the 61.8% Golden Fib Level
2nd Target Price: $7552 @ the 78.6%
Downside Breakout Target: $7038 @ the 61.8% Golden Fib Level
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Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
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More Power To All Your Trades,
Ron (The Intrepid Trader)
RSI has a Bullish Divergence
Initial Upside Breakout Target Price: $7467 @ the 61.8% Golden Fib Level
2nd Target Price: $7552 @ the 78.6%
Downside Breakout Target: $7038 @ the 61.8% Golden Fib Level
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
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If support continues to hold, this give Bitcoin the opportunity to create another Higher High which could be a start of a mini parabolic run up.
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Bitcoin may eventually form this inverse Adam & Eve pattern (Bullish Bias)
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First order of business is to get out of the red box up into the green and eventually higher still and out of the green box.
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BIG BREAKOUT COMING VERY SOON
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Be Aware!
Stoch RSI momentum is still in a downward direction.
Bitcoin has the prerogative to either re-test support zone or not.
Stoch RSI momentum is still in a downward direction.
Bitcoin has the prerogative to either re-test support zone or not.
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Update:
Bitcoin may still get another dip down to $7080
Or, breakout from the falling wedge and re-test support at $7165
Bitcoin may still get another dip down to $7080
Or, breakout from the falling wedge and re-test support at $7165
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Bitcoin is now Re-Testing Support
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All I can say is... What A View!
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Watching the 20 Period EMA, if price gets rejected then trend may continue downwards.
Price target: $6713
Price target: $6713
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