Hello guys, very sorry for the lack of updates the past few days, have been extremely busy and didn't get a chance to trade much, but I'm back.
So quick update, BTC bounced off the low of this descending channel that you see on my chart and is now at the fib golden pocket, which is resistance of course.
We are above the middle of the channel after a nice pump, shorts got rekt (lot of people were shorting at 44k), and I'm looking for higher, potentially for the break of the 48k high.
Of course, for this to happen we would have to break the channel to the upside and hold above it, the high of the channel is going to come in at around 47.7k
If we break this fib golden pocket, next resistance is the high of the channel, if we reject, look for the midpoint of the channel and then the lows.
Any questions?
Good luck traders
Remember not to break your rules
Habib
So quick update, BTC bounced off the low of this descending channel that you see on my chart and is now at the fib golden pocket, which is resistance of course.
We are above the middle of the channel after a nice pump, shorts got rekt (lot of people were shorting at 44k), and I'm looking for higher, potentially for the break of the 48k high.
Of course, for this to happen we would have to break the channel to the upside and hold above it, the high of the channel is going to come in at around 47.7k
If we break this fib golden pocket, next resistance is the high of the channel, if we reject, look for the midpoint of the channel and then the lows.
Any questions?
Good luck traders
Remember not to break your rules
Habib
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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.