Short term analysis of BTCUSD
Hello.
Let's look at 4 hr chart of BTCUSD
We are facing new resistance trend line(dotted skyblue line) and fighting to go through it after the first resistance trend line(dotted red line) was broken.
If we go through the dotted skyblue line firmly, we can expect the price of BTC will approach to next resistance level which is the combination of the white line and 0.5 retracement(13725, yellow box)
I think we should close long position at the yellow box because the minor downtrend channel is waiting for us.
Thanks for your reply.
good luck to all
Let's look at 4 hr chart of BTCUSD
We are facing new resistance trend line(dotted skyblue line) and fighting to go through it after the first resistance trend line(dotted red line) was broken.
If we go through the dotted skyblue line firmly, we can expect the price of BTC will approach to next resistance level which is the combination of the white line and 0.5 retracement(13725, yellow box)
I think we should close long position at the yellow box because the minor downtrend channel is waiting for us.
Thanks for your reply.
good luck to all
Note
Breakout!There we go
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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.