The 55EMA and 200EMA have been serving as key support and resistance levels for the BTC 2Day Chart. From 2013, the 55EMA has been significantly broken twice, once in 2013 and once in 2017. During those two times, the price both bounced up significantly once the 200EMA got hit.
With the 200EMA being a key support for now, laddering in around the 7.7k - 8k zone is what we are targeting, with stop loss around 7.1k.
Rather than predicting what would happen in the future, the key to success is finding the high probability set ups and consistently executing. Good luck!
With the 200EMA being a key support for now, laddering in around the 7.7k - 8k zone is what we are targeting, with stop loss around 7.1k.
Rather than predicting what would happen in the future, the key to success is finding the high probability set ups and consistently executing. Good luck!
Note
We are taking partial profits. We might see another drop to around the 200EMA level, allowing the 4HR RSI to form a bullish divergence in the oversold territory.
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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.
Building the future global economic system
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.