BTC approaching Resistance angle 1 for BITSTAMP:BTCUSD by SnowflakeTrader

BTC approaching Resistance angle 1

We are going to face the downward angle 1 as resistance soon, we have GREEN BARS< TRAPZONE AND UMVD. so current Trend is on the upside.

Watch out if we stall and break angle 3 going up and start sliding towards angle 2. Angle 2 should provide support in that case.

Note

As noted, scenario two materialized. Ange 2 is providing interim support. Tomorrow will be a wild day with FOMC minutes and other big news items.

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New lines with TA.
UMVD Is RED with RED TrapBars, Angle 2 (DN) is established now

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Angle 4 DN is now in place, with RED bars and Red UMVD pushing prices lower. 63.400 also failed to support and will become near term resistance in case of a bounce back.
This is now a SHORT idea...lol don't you just love the markets

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We are sitting on Angle 1 - UP now for support. What a wild week. Angle 3 DN holding strong too. UMVD RED and now We have RED TrapZone. Stay SHORT for now :)

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TrapZone Pro & UMVD all red with RED TrapBars !!

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We broke below DN angle 1 and now we tested the back of that same angle. Keep an eye on the UMVD for sign of selling. TrapZone is still RED. so Trend remains DN.

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BTC finding support now with GREEN UMVD

by SnowflakeTrader

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