Bitcoin Support And Resistance Bars
Updated
200EMA (RED LINE), the last line of defense, must hold to keep us from going into the Bears' Territory. A RED daily candle closing below it will have a very very high potential for the bulls losing the battle for the next months to come.
The Bulls must defend the 10K level and a monthly green candle closing above it is a strong indication that the Bulls are in control.
Remember to always place your stops at the appropriate levels whenever you put in a trade.
Happy trading everyone!
Ron
The MONTHLY overall view is looking very Bullish .
Check out my mid term out look for BTC with the Trend-Based Fib Extension Tool laid out.
This one's on a day chart:
Check out my mid term out look for BTC with the Fibonacci Circle Tool laid out.
This one's on a day chart:
The Bulls must defend the 10K level and a monthly green candle closing above it is a strong indication that the Bulls are in control.
Remember to always place your stops at the appropriate levels whenever you put in a trade.
Happy trading everyone!
Ron
The MONTHLY overall view is looking very Bullish .
Check out my mid term out look for BTC with the Trend-Based Fib Extension Tool laid out.
This one's on a day chart:
Check out my mid term out look for BTC with the Fibonacci Circle Tool laid out.
This one's on a day chart:
Note
Support Bar #1 held up.Note
Resistance Bar #1 has been reached.Note
Price sliced through Resistance Bar #1 like hot knife through butter.Price is now at Resistance #2. Time for a pull back prior to continuation of the bull run.
Note
Price consolidation in play at the Resistance Bar #2.Note
The 61.8% Fibonacci Level has been re-tested again and now Bitcoin has created a higher low. Time for a bounce and a bull run!!!!Note
10K is gone!!!! Onwards to taking out the 14K.
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