Bitcoin: Handle is forming
BTC continues its worry towards and upside potential and a breakout. It has to break the upcoming strong resistance i.e. 11k where people will enter as long and TP @ 12.2k or earlier.
The intersection of two solid red line is called as R-S Junction, which defines a point where the resistance and support equalize their strength and a shift in market trend is anticipated. In most cases, we see a consolidation phase in near future.
The intersection of two solid red line is called as R-S Junction, which defines a point where the resistance and support equalize their strength and a shift in market trend is anticipated. In most cases, we see a consolidation phase in near future.
Note
Breakout approaching...Remember the planNote
Handle is complete ...awaiting breakout to decide longNote
Due to low volume the breakout wasn't significant. Thus, I go short!Trade closed: target reached
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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.