Entry: 20883.6
TP: 22989.2
SL: 20187.8
Long Trade Idea:
BTC has reached a point reflecting a reaction from a minor support zone, upwards channel momentum, and major pitchfork momentum. These zones may suggest a bullish reversal to occur making a temporary new high towards 23400. The RSI indicator is not showing any divergence which may suggest that the major downwards trend will continue. That further increases my thoughts for 23400 providing major temporary resistance, a decent opportunity to take profits before. That 23400 zone is also in line with the middle upwards channel as well as the major pitchfork momentum resistance.
Let's see how this plays out.
Disclaimer: I have not put a large degree of thought into this trade idea. This is purely for general practice and seeing if anyone has any thoughts that they would like to voice.
TP: 22989.2
SL: 20187.8
Long Trade Idea:
BTC has reached a point reflecting a reaction from a minor support zone, upwards channel momentum, and major pitchfork momentum. These zones may suggest a bullish reversal to occur making a temporary new high towards 23400. The RSI indicator is not showing any divergence which may suggest that the major downwards trend will continue. That further increases my thoughts for 23400 providing major temporary resistance, a decent opportunity to take profits before. That 23400 zone is also in line with the middle upwards channel as well as the major pitchfork momentum resistance.
Let's see how this plays out.
Disclaimer: I have not put a large degree of thought into this trade idea. This is purely for general practice and seeing if anyone has any thoughts that they would like to voice.
Comment:
There will be some resistance around 22250.
Comment:
Followed by 22900 resistance.
Comment:
Trade closed at TP 22989.2.