Bear: If Bitcoin closes the day below the bottom line, then it's main support trendline from July 2017 is gone and becomes resistance. If this happens, we will likely retest 6k, if that fails then 5.6k, and if that fails 5k. If that fails, then it's a free fall back to 3.
Bull: If this trendline from July holds, then this will become the floor and we should see a retest of 9.2k If we can close the day above the top red trendline, then I believe we will be on a path back to retry 11.8k.
Bull: If this trendline from July holds, then this will become the floor and we should see a retest of 9.2k If we can close the day above the top red trendline, then I believe we will be on a path back to retry 11.8k.
My goal is to find the best risk:reward setups. For instance, if you risk $1,000 at a chance to make $5,000, you can afford to be wrong 4 out of 5 times and still not lose money. I hit my targets over 50% of the time.