BTCUSD shows bit sell exhaustion on support
Updated
BTCUSD broke the previous resistance and it is showing us right now that it came back to support which is around 4050$ per BTC.
BTC struggled to break big bearish flag (trendline) and it showed us that bears are beaten by bulls for now.
We can see that support on 4050$ is also confluenced by 50% fib retracement (price reversal zone) and ABCD pattern which is leading
us to -0.61 of fib to 4400$ per BTC.
I will update this idea as soon as it starts moving, Good luck and don't forget to proper risk and money management.
BTC struggled to break big bearish flag (trendline) and it showed us that bears are beaten by bulls for now.
We can see that support on 4050$ is also confluenced by 50% fib retracement (price reversal zone) and ABCD pattern which is leading
us to -0.61 of fib to 4400$ per BTC.
I will update this idea as soon as it starts moving, Good luck and don't forget to proper risk and money management.
Note
BTC broke trendline on H2 and heading higher.Note
We on the good way to 4200$ and then 4400$.Note
First target hit: 4200$. Expecting slight pullback and then continuation to 4400$Note
BTC kill zone. If it breaks down, we out.Note
Support is holding. H4 is closing above.= Still bullish bias
Trade closed: stop reached
Went brutally down below resistance. We out
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