BTC/USD Local work. Important area. The fate of the trend.

Dec 11, 2020

Term 4 hours. An important area is the $ 17,300 level (pink line). This zone of this level determines whether a sideways trend will form in the area of ​​local maximums or a full-fledged downtrend will develop. If the zone 17300 can be kept, the potential formation of the Dragon pattern. It should be remembered that the local trend is currently downtrend. Breaking through 17300 will mean its full development.

13/15

Here is a chart of this zone on the daily timeframe.
The price is already behind the local uptrend line. You yourself can see the potential for a downward movement in cases of a breakout of this important zone (zone of side formation) and the development of a full-fledged downtrend.



Former trading idea of local work on this trading instrument.
BTC/USD Local work. Symmetrical Triangle. Decoupling Soon

Dec 12, 2020

Note

At the moment there is a breakdown of the downtrend, from the reversal zone + 4.21%

Dec 12, 2020

Trade closed: target reached

1 target taken + 6% from the reversal zone. We are moving towards the second target.

Dec 13, 2020

Note

Dec 13, 2020

Note

There is a breakdown of the downtrend of the former local triangle, from the entry point already + 9.6%

Dec 13, 2020

Note

Dec 17, 2020

Trade closed: target reached

Dec 17, 2020

Note

23844 (on Binance 23810) At the channel resistance at 21440, the price was delayed by 3 hours and the channel was broken.

Dec 20, 2020

Note

Dec 20, 2020

Note

there is a breakdown of this triangle up + 4.49%. Now rollback. The area of the former resistance line during the pullback was confirmed. The price hit a local downtrend that formed on a pullback after an impulse. Overcoming it and exiting from 23800 (13) will mean the continuation of the upward movement. The goals of the movement were indicated earlier.