Break of support/resistance line btcusd
Updated
Hi all,
Btcusd will break this afternoon or evening the green support line OR the red resistance line. Yesterday it gave a nice move (you see that the light blue line which was resistance yesterday is broken today) and I expect we'll have that again today. Switch to the 1m timeframe to find the perfect entry when btcusd breaks the support/resistance line.
By the way, in the lower right corner a little piece of a very long green line is visible, that's the support line of the last week. We can expect a big move when we get near that line these days.
So another possibility today is that btcusd will break the green support line without a big move and will follow the light blue line to the weekly support line. But that would also be a big daily move, so when breaking the green support line you can go short.
Please have also a look at the 1h and 4h chart and see how the support and resistance lines connects the upper and lower shadow to prove it are THE support and resistance lines of this day.
Btcusd will break this afternoon or evening the green support line OR the red resistance line. Yesterday it gave a nice move (you see that the light blue line which was resistance yesterday is broken today) and I expect we'll have that again today. Switch to the 1m timeframe to find the perfect entry when btcusd breaks the support/resistance line.
By the way, in the lower right corner a little piece of a very long green line is visible, that's the support line of the last week. We can expect a big move when we get near that line these days.
So another possibility today is that btcusd will break the green support line without a big move and will follow the light blue line to the weekly support line. But that would also be a big daily move, so when breaking the green support line you can go short.
Please have also a look at the 1h and 4h chart and see how the support and resistance lines connects the upper and lower shadow to prove it are THE support and resistance lines of this day.
Note
Move stoploss to 6420, lets see if we can break 6460.Note
Out the trade, little bit profit when traded at the 1m chart :)
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