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Hello fellow traders hope you are all enjoying the markets , this is a special time for BTC whether you hae bullish or bearish sentiments.
Taking a look at the 2 yearly range/ 1 month chart it helps cut out a lot of the noise you get in smaller charts and we can clearly identify some serious trends.
This recent consolidation period and resistance point is RECORD BREAKING it is not a thing that happens everyday and signifies a big move upwards or downwards.
Some clearly identifiable points:
1) We have a clear resistance zone ranging from 10k to 10500
2) We have identified a clear curvature that is supporting our current trend for awhile now
Therefore:
There is great probability we will return to the bottom of the curvature and retest the top once again.
If a break of either this support or resistance occurs we can expect a drastic continuation of the direction of the break.
Conclusion:
We have a clear channel to scalp in , keep your stops over and under these support and resistance points.
Happy Trading!
Please feel free to comment and take a look at previous posts
Hello fellow traders hope you are all enjoying the markets , this is a special time for BTC whether you hae bullish or bearish sentiments.
Taking a look at the 2 yearly range/ 1 month chart it helps cut out a lot of the noise you get in smaller charts and we can clearly identify some serious trends.
This recent consolidation period and resistance point is RECORD BREAKING it is not a thing that happens everyday and signifies a big move upwards or downwards.
Some clearly identifiable points:
1) We have a clear resistance zone ranging from 10k to 10500
2) We have identified a clear curvature that is supporting our current trend for awhile now
Therefore:
There is great probability we will return to the bottom of the curvature and retest the top once again.
If a break of either this support or resistance occurs we can expect a drastic continuation of the direction of the break.
Conclusion:
We have a clear channel to scalp in , keep your stops over and under these support and resistance points.
Happy Trading!
Please feel free to comment and take a look at previous posts
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