Hello Everyone,
I am sure you all must have seen this structure. Yes, It is Double Bottom in DAY Chart and it shows some hope for upwards movement in #Bitcoin. However, this journey is not that easy for bitcoin, we can see a very strong resistance in front of BTC from the level of 22500 to 24000. Will the buyers have enough strength to break this barrier and make the 24000 a support level? This chart shows my analysis for upcoming days. share your thoughts about this in comments.
Weekly candle closing is also very important. if everything is right, than we may see "A morning star" pattern in weekly chart. which will be very important to understand where we are moving with Bitcoin.
my positions right now: (Kindly manage your risk accordingly. my recommendations is for spot trading only)
First Trade @ 20500
Long;
Target: 22250
Stop loss: 20250
Second Trade @ 22250-22750
Long
Target: 23500
Stop loss: 22000
Please like and comment to share your ideas. Happy & Safe Trading!!!
I am sure you all must have seen this structure. Yes, It is Double Bottom in DAY Chart and it shows some hope for upwards movement in #Bitcoin. However, this journey is not that easy for bitcoin, we can see a very strong resistance in front of BTC from the level of 22500 to 24000. Will the buyers have enough strength to break this barrier and make the 24000 a support level? This chart shows my analysis for upcoming days. share your thoughts about this in comments.
Weekly candle closing is also very important. if everything is right, than we may see "A morning star" pattern in weekly chart. which will be very important to understand where we are moving with Bitcoin.
my positions right now: (Kindly manage your risk accordingly. my recommendations is for spot trading only)
First Trade @ 20500
Long;
Target: 22250
Stop loss: 20250
Second Trade @ 22250-22750
Long
Target: 23500
Stop loss: 22000
Please like and comment to share your ideas. Happy & Safe Trading!!!
עסקה סגורה: היעד הושג:
BITCOIN has reached to the point of interest which was 24000 $ as mentioned in my first chart. I hope you have made winning trade. We may see some correction in Bitcoin for sometime. 22500 - 22000 is a good support area for Bitcoin now!
I would like to update this idea as well. few days ago i have shared this, possible situation if we reject from the resistance.
please trade safely and do your own research.