BitcoinLong
#BTC : Simple Trading Setup
Updated
Quick #BTC Update:
1. We are clearly uptrending with a strong break of diagonal resistance
2. We are approaching the rejection level of the large Head & Shoulders pattern and if price stays above 49500 we could see a strong push to 55-57k which signifies failure of the previous pattern
3. We are moving upwards in a slanted trading range, while in this structure and not below we can expect an upwards breakout (following the previous trend leads to success usually)
4. Jack Dorsey (CEO of twitter) may be adding BITCOIN payments to the platform, extremely bullish news in my opinion.
coindesk.com/markets/2021/06/11/jack-dorsey-suggests-twitter-likely-to-integrate-lightning-network/
Where is invalidation?
I will cut my trade probably if we lose $48,000 region.
1. We are clearly uptrending with a strong break of diagonal resistance
2. We are approaching the rejection level of the large Head & Shoulders pattern and if price stays above 49500 we could see a strong push to 55-57k which signifies failure of the previous pattern
3. We are moving upwards in a slanted trading range, while in this structure and not below we can expect an upwards breakout (following the previous trend leads to success usually)
4. Jack Dorsey (CEO of twitter) may be adding BITCOIN payments to the platform, extremely bullish news in my opinion.
coindesk.com/markets/2021/06/11/jack-dorsey-suggests-twitter-likely-to-integrate-lightning-network/
Where is invalidation?
I will cut my trade probably if we lose $48,000 region.
Note
Playing out perfect so far, 49500 is important to hold above!
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