BTC bullish - waiting on bounce from 2 key resistance levels
Updated
Ive drawn 2 bullish scenarios for short term trades.
1. the blue arrow. Potential bounce off the horizontal ray at $10160 which coincides with the .236 Fibonacci level. With my conservative target at the .5 Fib at $10880 for around 5-6% scalp.
I have taken a small position around $10200. Stop loss just under 10k
2. The purple arrows. BTC breaks the $10160 support and will find support on the key trend line which has been respected since early April. I expect around $9800 buy-in. Where there will be a strong bounce to the upside. Target being the "golden pocket" Fibonacci levels .618 - .65. ($11200 - $11300)
Cheers
1. the blue arrow. Potential bounce off the horizontal ray at $10160 which coincides with the .236 Fibonacci level. With my conservative target at the .5 Fib at $10880 for around 5-6% scalp.
I have taken a small position around $10200. Stop loss just under 10k
2. The purple arrows. BTC breaks the $10160 support and will find support on the key trend line which has been respected since early April. I expect around $9800 buy-in. Where there will be a strong bounce to the upside. Target being the "golden pocket" Fibonacci levels .618 - .65. ($11200 - $11300)
Cheers
Trade closed: target reached
1. complete. Trade Closed
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