BTCUSD: 1H analysis
Hi
I hope you have made money from the previous analysis.
Bitcoin faces two major resistances in the 1H. The first resistance is Moving average 50, which has a significant reaction to it and acts as a strong resistance at the top of the price. The second is a very strong level of 30,500. As a result, it is expected that Bitcoin cannot break this level and return to 30,300. But if price cross this level, 31000 is the next destination.
I hope you have made money from the previous analysis.
Bitcoin faces two major resistances in the 1H. The first resistance is Moving average 50, which has a significant reaction to it and acts as a strong resistance at the top of the price. The second is a very strong level of 30,500. As a result, it is expected that Bitcoin cannot break this level and return to 30,300. But if price cross this level, 31000 is the next destination.
Trade active
As we predicted, rejection happened and the price is now 30,300.
We hold the position. If the neck line of the formed Head and Shoulders is broken, we can see 30,000, but if it is rejected, we close our position with profit.
enjoy!!
Trade closed: target reached
✅ tp hit! +55 pips
Enjoy!!
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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.
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.