BTC has broken above minor resistance and retested as a support. Ranging within a symmetrical triangle with declining volume we could see a break in either direction but as long as BTC remains above $5,515 I am bullish in the short-term.
I'm also trying out something new to me in this chart: Fibonacci time zones. We'll see how that plays out.
I'm also trying out something new to me in this chart: Fibonacci time zones. We'll see how that plays out.
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And up we go! I didn't take this trade but if I had I would take partial profit at these levels and move stop to entry.
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Had I taken this trade, the remainder of my position would have been stopped out at entry for a profitable trade overall.
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Very interesting that Fibonacci time zone result (vertical dotted line on chart) coincided with the drop we just saw in BTC. I'll experiment with it further.