BTC Daily Break Above Rising Resistance
Updated
BTC has managed to hold above a rising resistance that was currently dictating the price action.
There are roughly two daily bars before we meet this trend again while being above it. The rising wedge broke to the upside, so my bias for this trade is long. RSI is 72 at time of publishing. Long targets are 77,800 first, and then 84,600. These is the 1.618 extension and the 2.618 extension of the previous high swing low.
Not financial advice.
Do your own DD.
Thanks for reading the idea.
There are roughly two daily bars before we meet this trend again while being above it. The rising wedge broke to the upside, so my bias for this trade is long. RSI is 72 at time of publishing. Long targets are 77,800 first, and then 84,600. These is the 1.618 extension and the 2.618 extension of the previous high swing low.
Not financial advice.
Do your own DD.
Thanks for reading the idea.
Trade active
BTC has blown through the first target in the same candle as time of publishing for the initial idea. below is the impulse.
Note
blew through the 2.618 and currently rejecting the 3.236 at the most recent candle close and open.
Note
Huge gains for btc. the coin may need to pullback for it to remain healthily bullish. here are the fibs in the event that this is the local top for the impulse.
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