BTCUSD - waiting for breakout confirmation
BTC reversal Head and shoulder breakout has been confirmed.
-BULLISH CONDITION
The neck is showed on the chart as 'support neck' - 6640
The price closed above the neck and I am patiently waiting for confirmation.
Now we are using the neck as a support and we are waiting for a bounce.
If it bounce from the neck and it go above the breakout zone, we can BUY and expect a bullish continuation trend.
Why am I waiting to buy even if it broke the big resistance (red diagonale on the chart) that everyone is talking about?
Because we don't want to get caught in a bull trap.
Always considering the risk management first.
-BEARISH CONDITION
1. If the price closed below our 'support neck' - 6640, we expect the price to test the support zone.
2. If the price closed below our support zone as showed on the Chart, I am expecting the price to go further down.
That would mean our bullish channel would be breakdown.
In this scenario, I will reevaluate the market and do an update.
Thank you,
CryptoKraven
-BULLISH CONDITION
The neck is showed on the chart as 'support neck' - 6640
The price closed above the neck and I am patiently waiting for confirmation.
Now we are using the neck as a support and we are waiting for a bounce.
If it bounce from the neck and it go above the breakout zone, we can BUY and expect a bullish continuation trend.
Why am I waiting to buy even if it broke the big resistance (red diagonale on the chart) that everyone is talking about?
Because we don't want to get caught in a bull trap.
Always considering the risk management first.
-BEARISH CONDITION
1. If the price closed below our 'support neck' - 6640, we expect the price to test the support zone.
2. If the price closed below our support zone as showed on the Chart, I am expecting the price to go further down.
That would mean our bullish channel would be breakdown.
In this scenario, I will reevaluate the market and do an update.
Thank you,
CryptoKraven
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.