Okex incident of the last week turned out to be a decent buying opportunity for Bitcoin
BTCUSD
. Price went back to levels we've seen just before it. Channel structure still holds and an upwards movement is more likely than downwards.
We also see a minor Bullish Flag breaking up and that's positive.
There are multiple strong supports below us:
The most important for me is 10950. If we see a daily close below it, I'll consider this rally is over. As of now my Long position is still open. Let's see if our patience will give its fruits.
DISCLAIMER: Please note that my trading approach is trend following. I don't try to make predictions. I don't try to catch the bottom or the top. I don't try to be right. I try to be agile and flexible enough to join the right side before it's too late. Please also note that I'm a swing trader using daily charts.
Entry and exit signals are not universal in trading. They should be determined according to the trading method used. If your trading approach and my trading approach don't match, please do NOT consider them relevant for your own purposes.
BTCUSD
. Price went back to levels we've seen just before it. Channel structure still holds and an upwards movement is more likely than downwards. We also see a minor Bullish Flag breaking up and that's positive.
There are multiple strong supports below us:
- 11125
- 10950
- 10890
- 10495
The most important for me is 10950. If we see a daily close below it, I'll consider this rally is over. As of now my Long position is still open. Let's see if our patience will give its fruits.
DISCLAIMER: Please note that my trading approach is trend following. I don't try to make predictions. I don't try to catch the bottom or the top. I don't try to be right. I try to be agile and flexible enough to join the right side before it's too late. Please also note that I'm a swing trader using daily charts.
Entry and exit signals are not universal in trading. They should be determined according to the trading method used. If your trading approach and my trading approach don't match, please do NOT consider them relevant for your own purposes.
