Long

Breakout or fakeout?

Updated

After consolidating for about a month and bouncing off the 20ma it looks as though BTC is about to breakout. This is a very good trade setup with clear support and resistance and a 2:1 risk/reward. On the down side, volume is still lacking.

Support : $3900
Resistance : $4600 (200ma)

Note

volume here!

Note

When a target is quickly hit it is often best to just exit half a position and let the momentum to move it farther.

Note

Price easily broke the 200SMA on volume. Maybe can get healthy pullback to 200SMA and then resume higher.

SR618

Also on:

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.