On the daily chart we see that the BTC is rising up lately
At the 1 hour chart we see a continuation pattern is forming, the ascending triangle, but it is not completed yet. Also we see that the continuation pattern is forming at an area of bears (Sellers). So the question now is will the bulls slaughter the bears on this area? If they do our next daily target area will be 9671 and 9976. It may sound good but we can't act on it yet, because the continuation pattern is not completed. On the other hand we can start to make a trading plan to go long.
Long position (BTC)
Entry: I plan to go long if I see a close above the white line
Stop loss: The stop loss will be the white line or the uptrend
Target: See the blue area below the price
Long position
Entry: I plan to go long if a see a close above the white line
Stop Loss: The white line or a close below the uptrend
Target: There are 1 hour target areas (Blue areas) before it will reach the daily target area (Orange), we have to see what is going to happen at those blue areas and act on it
ALWAYS keep in mind! That this is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!
At the 1 hour chart we see a continuation pattern is forming, the ascending triangle, but it is not completed yet. Also we see that the continuation pattern is forming at an area of bears (Sellers). So the question now is will the bulls slaughter the bears on this area? If they do our next daily target area will be 9671 and 9976. It may sound good but we can't act on it yet, because the continuation pattern is not completed. On the other hand we can start to make a trading plan to go long.
Long position (BTC)
Entry: I plan to go long if I see a close above the white line
Stop loss: The stop loss will be the white line or the uptrend
Target: See the blue area below the price
Long position
Entry: I plan to go long if a see a close above the white line
Stop Loss: The white line or a close below the uptrend
Target: There are 1 hour target areas (Blue areas) before it will reach the daily target area (Orange), we have to see what is going to happen at those blue areas and act on it
ALWAYS keep in mind! That this is NOT an investment advice, but an analyse . You can do whatever you want with this information, so trade at your own risks!