my bias for BTC currently is to stay long and under the impression that a move back up to $58,000 - $60,000 soon is likely. Reasons why:
- We are still printing higher/lower highs in an uptrend.
- Using the trend line shown as support, bar a fake out in March we've rejected this trend 3 separate times since then on the higher time frames.
- Price is flirting with the both my favourite fib levels in tapping the 0.786 fib and buyers driving price back up to close on the 0.618 fib.
- We are printing one of the most in my opinion the most powerful candle stick patterns for a reversal in the market, being the three pin formation.
I'm therefore long until we break the the the trend and the fib levels with a significant close below.
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I’m a 23 year old trader with 5 years experience in trading cryptocurrency & forex. My ideas are for educational purposes only. Each & every idea/trade I post is a setup based on a position I myself will take - so I’m always in it with my followers.
I post daily updates on how I believe the market will move. If you like my content please like, comment & follow. I love to hear what you guys think, whether your outlook is the same or different to mine its always great to converse in the comments. Let’s surround ourselves with likeminded traders & investors!
Have a great day, be patient & profitable!
- We are still printing higher/lower highs in an uptrend.
- Using the trend line shown as support, bar a fake out in March we've rejected this trend 3 separate times since then on the higher time frames.
- Price is flirting with the both my favourite fib levels in tapping the 0.786 fib and buyers driving price back up to close on the 0.618 fib.
- We are printing one of the most in my opinion the most powerful candle stick patterns for a reversal in the market, being the three pin formation.
I'm therefore long until we break the the the trend and the fib levels with a significant close below.
-
I’m a 23 year old trader with 5 years experience in trading cryptocurrency & forex. My ideas are for educational purposes only. Each & every idea/trade I post is a setup based on a position I myself will take - so I’m always in it with my followers.
I post daily updates on how I believe the market will move. If you like my content please like, comment & follow. I love to hear what you guys think, whether your outlook is the same or different to mine its always great to converse in the comments. Let’s surround ourselves with likeminded traders & investors!
Have a great day, be patient & profitable!