BTC USD LONG @ 8,500 & 8,100 ( 5 Reasons Why)
So we are reaching one of my targets that I mentioned at my last post about 8,500 & 8,100 (Linked Below)
Here are my reasons why I am dollar cost averaging my long position on bitcoin between 8,400$ & 7,900.
1. POC (Point Of Control) @ 8,100
2. .618 Fibonacci Retracment
3. Downward Channel Trendline Support (Was Resistance until we broke it in January 27th)
4. CME Gap Filled @ 8,555$
5. 1.618 ABC Extension Completed (Could Be the A wave of the Larger ABC Correction.
Bonus: Possible Cup & Handle Pattern Forming On Daily. If True then the .5 Retracement Is Usually Bottom Of the handle. If Not Cup & Handle, then we could retest 9,500 before moving down to 8,100.
P.S: We could go down to as low as 7,900-8,100 By March 20th So Be Ready For It, IF The Opportunity Does Present itself.
If we break 7,500 by more than a wick. Than I will seriously reconsider HODLing my position.
P.S 2: I have a youtube channel @ Brian Rodas, if you want a more in depth analysis be sure to follow me there
Here are my reasons why I am dollar cost averaging my long position on bitcoin between 8,400$ & 7,900.
1. POC (Point Of Control) @ 8,100
2. .618 Fibonacci Retracment
3. Downward Channel Trendline Support (Was Resistance until we broke it in January 27th)
4. CME Gap Filled @ 8,555$
5. 1.618 ABC Extension Completed (Could Be the A wave of the Larger ABC Correction.
Bonus: Possible Cup & Handle Pattern Forming On Daily. If True then the .5 Retracement Is Usually Bottom Of the handle. If Not Cup & Handle, then we could retest 9,500 before moving down to 8,100.
P.S: We could go down to as low as 7,900-8,100 By March 20th So Be Ready For It, IF The Opportunity Does Present itself.
If we break 7,500 by more than a wick. Than I will seriously reconsider HODLing my position.
P.S 2: I have a youtube channel @ Brian Rodas, if you want a more in depth analysis be sure to follow me there
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