ethanmun

Broke mid-term Fibonacci resistance

شراء
BITFINEX:BTCUSD   بتكوين
1. Bounced off of low-of-the-day inverse cup and handle lid (purple line)
2. Finally broke the mid-term Fibonacci resistance with strong volume.
3. Currently trading around and retesting close-of-the-day inverse cup and handle. (orange)
4. No resistance upto 50 day moving average.


Resistance:
1. 50-day moving average $8570 as of today
2. Mid-term top trend $9000 as of today (If broken, Mid-term (4-month) bear trend reverses to bull trend!)

3. Log-term Fibonacci (68%) $9500 as of today
4. 200-day moving average $9600 as of today
5. Previous Resistance $11250

Support:
1. close-of-the-day inverse cup and handle $7920 as of today
2. Mid-term (4months) Fibonacci (68%) (which was a strong resistance previously) $6880 as of today
3.low-of-the-day inverse cup and handle. $6500 as of today
4. Mid-term (4 months) Fibonacci (32%) - $5000 as of today
5. Mid-term bottom trend - $3850 as of today


My idea:

1. Resistance #1 hits
2. Retest Support #1
3. Breaks resistance #1 & Bounce off of resistance #2.
4a) if falls below, 50-day moving average again, expect it to drop to Support #2
4b) if breaks, Resistance #2, shoots straight up to resistance #3 & #4 area which would act as double (strong) resistance.
إخلاء المسؤولية

لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.