Bitcoin - support and resistance levels revealed by AUTOMATED st
Hello, everyone!
As you already know we recently developed the automated trading strategy which can give us the trustful levels of support and resistance. Today we will take a look at the current
BTC price action using this script.
Let's look at the 1h time frame BTCUSDT chart of the Binance exchange. The script has been started on 3-rd July and has already generated two strong bases (see orange lines). Base is the strong support level, defined by script which has the high probability to be retested according to data-driven approach which the strategy uses. The first base has not been broken, so now it's invalid, but the second base at $31059 has been broken, thus we have 2 nearest strong support level.
We can see that the Bitcoin price has already reached the first support at $30426 and now bouncing off it. Automated strategy has opened the trade right here and now defined take profit target at the green line at $31864. The strong resistance is gonna be right there which is not gonna be broken without a significant pullback.
Looking at the price chart we can also see that we have the next support level at $29556 if current support will not be hold. Of course in this case the resistance level will be shifted lower. DCA approach will be applied by this strategy.
Best regards, Ivan
____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
As you already know we recently developed the automated trading strategy which can give us the trustful levels of support and resistance. Today we will take a look at the current
BTC price action using this script. Let's look at the 1h time frame BTCUSDT chart of the Binance exchange. The script has been started on 3-rd July and has already generated two strong bases (see orange lines). Base is the strong support level, defined by script which has the high probability to be retested according to data-driven approach which the strategy uses. The first base has not been broken, so now it's invalid, but the second base at $31059 has been broken, thus we have 2 nearest strong support level.
We can see that the Bitcoin price has already reached the first support at $30426 and now bouncing off it. Automated strategy has opened the trade right here and now defined take profit target at the green line at $31864. The strong resistance is gonna be right there which is not gonna be broken without a significant pullback.
Looking at the price chart we can also see that we have the next support level at $29556 if current support will not be hold. Of course in this case the resistance level will be shifted lower. DCA approach will be applied by this strategy.
Best regards, Ivan
____________________________________________________________
🔥Please, follow me and smash the rocket🚀 button to support me🔥
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