BTC breaking out the resistance !
Updated
in our last analysis, we talked about the importance of breaking out this trend line in order to test the major trend line, as we see on the 4 hour chart we did have a candle close above the trend line which is a good sign, but i personally need to see a DAILY candle closes above the trend. the price seems to be re-testing this trend line before taking off.
alternatively , if we fall to break on the daily chart we may head straight down to the major support trend line.
watch daily candle closely.
alternatively , if we fall to break on the daily chart we may head straight down to the major support trend line.
watch daily candle closely.
Note
after retesting the minor trend RED we had a nice bounce , now we are at resistence area from 7000 to 7200, a close above that will give us a clear path to the Major trend line at around 7750-7850.Trade closed: target reached
very nice and clean.
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