Bitcoin - Rising Wedge
Updated
Happy Super Sunday, 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...
==============================
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.
==============================
Timeframe: 1 Hour
Chart Pattern: Rising Wedge (Bearish)
RSI & MACD: (+) Bearish Divergence, Bulls' momentum declined
Target #1: $25,075 @ 31.8% Fib
Target #2: $24,023 @ 50% Fib
Target #3: $22,972-$22,687 @ 61.8%-65% Fib (Golden Pocket)
Confirmation: Break of White Support Trend Line Of Rising Wedge with Price Dipping Below 50EMA and a subsequent bear re-test.
Conversely: Price action breaking Red Resistance Trend Line will potentially bring Bitcoin toward the 30.5K-30.9K @ 100% Trend-Based Fib Extension.
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.
==============================
Timeframe: 1 Hour
Chart Pattern: Rising Wedge (Bearish)
RSI & MACD: (+) Bearish Divergence, Bulls' momentum declined
Target #1: $25,075 @ 31.8% Fib
Target #2: $24,023 @ 50% Fib
Target #3: $22,972-$22,687 @ 61.8%-65% Fib (Golden Pocket)
Confirmation: Break of White Support Trend Line Of Rising Wedge with Price Dipping Below 50EMA and a subsequent bear re-test.
Conversely: Price action breaking Red Resistance Trend Line will potentially bring Bitcoin toward the 30.5K-30.9K @ 100% Trend-Based Fib Extension.
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
Note
4 Hour ChartNote
ALWAYS BE AWARE OF STOP HUNTING BOTS!Note
STOP-HUNT ZONES
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