BTC broke out of the range and currently trading above the VAH. My ideal scenario would be range between 19.8-19.9k & 21k before pushing towards high confluence zone around 21.7k (weekly + 0.786 + high volume node of the drop + fib channel extension) for a swing short. This is in confluence with my on going Gartley Harmonic on dxy. If it comes down to around 19.8 zone over the weekend will look for long to 21.7k and look for short from there.
Comment:
Long entry was slightly off but its looking good. The fib channel has been magical throughout. Still my 1st major resistance around 21.7k zone.
Comment:
What a trade it is turning out to be. Happened quicker then expected. But I will take it.
Comment:
That's a wrap on the swing trade. Perfectly hit target. Until we get back into the fib channel extension I expect lower prices.
Trade closed: target reached:
The fib channel proved magical and printed $. Will close this analysis and re-visit this channel again after few months when the price finally decides to come back up.