BTC potential continued momentum from breakout
We have an inverse head & shoulders breakout on the daily. We might still be in a down trend, however there is still more room to the upside from this breakout.
I feel like if we were to pullback and re-test the breakout area, we would already have done so. But prices have been holding rather steady at this higher level.
Target is at 7920 (8000 is key resistance in my opinion and could be the point where the downtrend resumes)
Stop is at 7274
I feel like if we were to pullback and re-test the breakout area, we would already have done so. But prices have been holding rather steady at this higher level.
Target is at 7920 (8000 is key resistance in my opinion and could be the point where the downtrend resumes)
Stop is at 7274
Trade closed: stop reached
Moved up stop to 7423 when it broke out. Stop got hit on the failed breakoutTrade active
Testing another entry here. This breakout seems to work better so far.Trade closed: target reached
Taking profits here at 7860 on the new breakout
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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.