oh92

Game of Ladders - The Bull Scenario

شراء
oh92 تم تحديثه   
BITSTAMP:BTCUSD   بتكوين
Over the past couple weeks, we have seen overall sentiment of the market gradually switch to bear.
Though this may hold true, I though I would share this bullish fractal pattern and possible trading opportunity.

The chart above shows Bitcoin currently sitting just above a long term pitchfork support. This is the second time testing this pitchfork support which is happening in a very similar manner as on June 10th of this year. The arrows above are there to point out the similarities.

Not only that, but the previous test of 9050 was a perfect hit of the .236 fib extension from the swing of 19k to 3k.

Other Minor Reasons:
- Currently above weekly S1 pivot support.
- Volume Extension showing seller exhaustion

The Trade:
  • Entry 1: 9400
  • Confirmation: 11150
  • Entry 2: 11150
  • Target: 17000
  • Stop/Loss: 9050

With the overall sentiment changing to bear, this may not hold true.
However the fractal and opportunity is here.

I hope you all found this article interesting and maybe even a little helpful!

Wish you all the best of luck!
تم فتح الصفقة:
This upward swing has me remaining positive.
تعليق:
was this recent cross a bull trap?
I still think this pennant has a possibility of playing out.
If so major support would be around 9800

Creator of DepthHouse Indicators on TradingView!
depthhouse.com/
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