Here we can see the price consolidating on the weekly chart, trading near a resistance with bullish momentum increasing, and forming a triangle. If the price break the resistance I anticipate a move higher as indicated with the up arrow. As I consider all possible moves the price can make I have a bearish move as my alternative and the probability that the price can remain in this consolidation for a while longer. I use lower timeframes to time entries.
הערה:
Go down to a lower timeframe like 4H/1H to see the battle between the bears and bulls in action. There is a lot of uncertainty around Cryptos, we will have to see if al the marketing around BTC prices going to skyrocket will pull in enough newbies to buy and creates a demand.
הערה:
37k target reached, next anticipated target 47k.
הערה:
Go to my website on my profile to learn more about short timeframe trading, and how I hedge against to offset losses with pullbacks.
הערה:
If price can break this 37k level then 47k is on the table.
הערה:
Done and dusted as anticipated.
הערה:
Price reached as high as 49k before pulling back. Pullback visible lower timeframes.