Bitcoin had just hit a new all time high on November 10th, 2021 of $68,789.63. Since then the asset has held its ground and came back down to the 55k area.
We want to see Bitcoin hold the trend line for a continuation of the trend.
-Good placement on the RSI for a bounce off of the trend line
-Currently sitting on a strong zone of horizontal support at $52,920
-0.618 fib-retracement lines up with our trend line
We want to see Bitcoin hold the trend line for a continuation of the trend.
-Good placement on the RSI for a bounce off of the trend line
-Currently sitting on a strong zone of horizontal support at $52,920
-0.618 fib-retracement lines up with our trend line
Trade closed: stop reached:
Broke trend line.