BTC FUTURES Follow up on FEB 14 post
Updated
BTC has obviously broken upside of rising pennant as noted on FEB 10 post. It has now formed a rising channel pattern and would expect it to continue its rise bouncing around the pattern at critical pivot points. Stops and entries can be utilized in this manner as well depending on trading time frame
A break of lower black channel line prior to 10200 and probable retest of 9500 in play.
A break of lower black channel line prior to 10200 and probable retest of 9500 in play.
Note
High of 11040 . All targets have been met that I posted on BTC FEB 12. The channel lines have played out as expected and prices rode them right to targets acting as perfect pivot points. This resistance is perfect spot for prices to consolidate recent gains or reverse so caution warranted. there is a gap in 10100 area that may try and get filled. Either way watch for prices t continue to honor channels and I will update chart as they create new pivots.Posted this comment on my original link yesterday to this post below . Trade was initiated on break of 9100 , 20% gain in 7 days.
"11 hours ago
Comment: 1050 hit exact. Gap up very bullish sign but gapped right into resistance, one could expect pause/pullback here, some consolidation, but swings would lock in profit, and long term prices should not break below 9500 again to remain bullish. I think prices will eventually test trendline around 10800-10900 and then one would reevaluate bias then. I doubt it will break through first time even if they intend to run higher."
Note
Another bullish gap up and above top channel riding it up now. Will add new channels for targets and resistance/support on follow up post.
Related publications
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.