I just drew some lines to understand price action on the cryptocurrency and this is what I got.
Not predicting anything here but I know little bit something about Elliot wave theory and after retracement to 8000, the price has found nice support at 8700 with a 'correcting up-trend triangle formation'.
I will open a long position from 8700 to 10000. Whenever that price is reached.
Not predicting anything here but I know little bit something about Elliot wave theory and after retracement to 8000, the price has found nice support at 8700 with a 'correcting up-trend triangle formation'.
I will open a long position from 8700 to 10000. Whenever that price is reached.
Trade active:
The trade position automatically opened at 8705. S/L at 8400.
Will update as the trade goes on...
Will update as the trade goes on...
Comment:
How simple lines can give so much of an insight
How simple lines can give so much of an insight
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BTCUSD UPDATE
primalkarma
about BTCUSD
Price rejected at 9000 from the trendline named move 1. We need to be extremely cautious and see if 8700 support holds.
In case 8700 is broken, then I may close the position.