Bitcoin recently brokeout of the pennant chart pattern as expected. It looks like the market is printing an ascending channel and price bounced off the channel resistance. Price is currently experiencing retracement to the horizontal flip support + channel support + fib retracement levels. Bounce off the channel support would be a good bullish signal↗️.
We can clearly see by looking at the chart what happens when price breaks this level of support
I am expecting the same thing to happen again, there is enough divergence on the lower timeframes to confirm a change in trend is coming as well as knowing that the USD is falling all over the place... this will bomb very soon
Waiting for BTCUSD to break support before dropping to the green area.
I see divergence on multiple timeframes and support has been tested a few times.. should fall quite a bit.
Mindset is 1 of the most important tools to have in trading... yet most people overlook this... this is why 90% of people fail.
My mindset when i 1st started out trading was terrible, after a couple of lucky wins in a row ( i was just gambling as i didn't know anything about Forex ) i would think i was on top of the world, better than the markets and a clever...
