Bitcoin is trading inside a Channel Up pattern, which since Monday is correcting.
We are already below the MA50 (4h).
The previous correction found the first support on the MA200 (4h), just over the 0.5 Fib. It then broke slightly below it for the final bottom of the pattern.
Trading Plan:
1. Buy on the MA200 (4h).
Targets:
1. 71500 (just under the -0.236 Fib extension, like the October 21 High).
Tips:
1. The RSI (1d) provides the most efficient buy signal on its Rising Support trendline, which started on the August 5th Low. If its crosses below its MA, then reserve one final buy for the Rising Support.
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Notes:
Past trading plan:
We are already below the MA50 (4h).
The previous correction found the first support on the MA200 (4h), just over the 0.5 Fib. It then broke slightly below it for the final bottom of the pattern.
Trading Plan:
1. Buy on the MA200 (4h).
Targets:
1. 71500 (just under the -0.236 Fib extension, like the October 21 High).
Tips:
1. The RSI (1d) provides the most efficient buy signal on its Rising Support trendline, which started on the August 5th Low. If its crosses below its MA, then reserve one final buy for the Rising Support.
Please like, follow and comment!!
Notes:
Past trading plan:
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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.
Join our private Telegram signals channel, with +70% accuracy for forex and crypto! 🎉
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
Also doing account management, earn +15% monthly profit!
👉CONTACT: t.me/tradingbrokersview
Stop gambling with your trades! 🎰
Start being profitable! 💰
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.