Bitcoin - Breakout Imminent
Updated
Happy Money Monday, Traders!
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
This is the moment of truth.
Chart Timeframe: 1 Hr
Local Trend: Upwards
Weekly Trend: Upwards
Price Action: Respecting the 50EMA as support, peeking its head above the red resistance trend line although still below the RED resistance bar. Price action may re-test that red bar as support to confirm a bullish continuation, target price $29,397. Conversely, price action breaking the $27,823 (support) level could retest that level as resistance and off it'll go towards the 200EMA
RSI & MACD: Currently, both are above their respective 50% levels, although both have BEARISH DIVERGENCES - buyers' momentum weakening.
There could be one more leg up towards the 100% Trend-Based Fib Extension prior to a correction. But never let your guard down.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, please give it a like and consider following.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
This is the moment of truth.
Chart Timeframe: 1 Hr
Local Trend: Upwards
Weekly Trend: Upwards
Price Action: Respecting the 50EMA as support, peeking its head above the red resistance trend line although still below the RED resistance bar. Price action may re-test that red bar as support to confirm a bullish continuation, target price $29,397. Conversely, price action breaking the $27,823 (support) level could retest that level as resistance and off it'll go towards the 200EMA
RSI & MACD: Currently, both are above their respective 50% levels, although both have BEARISH DIVERGENCES - buyers' momentum weakening.
There could be one more leg up towards the 100% Trend-Based Fib Extension prior to a correction. But never let your guard down.
Always remember to place your Stop Loss.
Price action is KING!
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Note
15 min TFNote
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