After a fake break out! what's next???
in my previous publication i was bullish on BTC after breaking 22500 resistance , and mentioned I'm going long after a pullback if the RSI remain above 50 level.
it was a good scalp opportunity from 22500 to 23800 (green circle on the cart). and after that the RSI starts to go down and the previous resistance and 50MA couldn't hold the price.
i mentioned that the retest to 19-20k area can be happen and bullish scenario is invalid if the RSI goes blew level 50 .
this time i point out the three price reversal are as a buy zone.
buy zone I : MA200 in 4h time frame , as the RSI is under level 30 and it shows the selling pressure in nearly over and the price can goes up to the 23-24k $ in next few days.4
buy zone II : the dynamic trend line from lowest price in JUNE 18-22 that every time act as a strong support . the area is 19900-20100.
buy zone III : obviously the static strong support area around 18700-19100 .
i don't use high leverage for these positions
its good to have a plan for any scenario and i.ll DCA on my Long position on any of those areas and waiting to see 23-24K$ again.
fed FOMC meeting (75BP raise expected) and this can lead the price till the third buy zone. but i don't miss any buying opportunity on important levels , maybe the market already affected by that!
hapy trading
it was a good scalp opportunity from 22500 to 23800 (green circle on the cart). and after that the RSI starts to go down and the previous resistance and 50MA couldn't hold the price.
i mentioned that the retest to 19-20k area can be happen and bullish scenario is invalid if the RSI goes blew level 50 .
this time i point out the three price reversal are as a buy zone.
buy zone I : MA200 in 4h time frame , as the RSI is under level 30 and it shows the selling pressure in nearly over and the price can goes up to the 23-24k $ in next few days.4
buy zone II : the dynamic trend line from lowest price in JUNE 18-22 that every time act as a strong support . the area is 19900-20100.
buy zone III : obviously the static strong support area around 18700-19100 .
i don't use high leverage for these positions
its good to have a plan for any scenario and i.ll DCA on my Long position on any of those areas and waiting to see 23-24K$ again.
fed FOMC meeting (75BP raise expected) and this can lead the price till the third buy zone. but i don't miss any buying opportunity on important levels , maybe the market already affected by that!
hapy trading
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