Bitcoin still in consolidation modus.
After recent short squeeze topped out just above 2018 opening price, Bitcoin has been in consolidation. It formed a descending channel, which looks decent, but is not yet confirmed. The lower parallel of descending channel has a confluence area with late May resistance, turned support mid June.
-Entry: 9000$
-Aggressive stop around :8000$, conservative stop below :7450$.
-Target: 17,250$ (2018 High)
-Entry: 9000$
-Aggressive stop around :8000$, conservative stop below :7450$.
-Target: 17,250$ (2018 High)
Trade active
4-hour touch @ lower parallel, 100% trend extension and the May high (Resistance turned Support. Note
Note
Waiting for a close above slope support, retest of May low still a possibility. Note
May low has to be May high ;)
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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.