BitcoinLong
BTCUSD W & D: Building confluences
Here are a couple of ideas for long entries:
1. Look for some bullish relief around 5200-5300 on the daily. The 1.0 fib exts of 6/7-6/19 & 6/20-6/25 are showing confluence, so look for a reversal there.
2. For the larger trend, the 1.0 fib exts on both the W & the D charts are showing confluence in the 4800-4900 area, indicating a reversal area.
1. Look for some bullish relief around 5200-5300 on the daily. The 1.0 fib exts of 6/7-6/19 & 6/20-6/25 are showing confluence, so look for a reversal there.
2. For the larger trend, the 1.0 fib exts on both the W & the D charts are showing confluence in the 4800-4900 area, indicating a reversal area.
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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.