If we ever drop down, I'm looking at $8250, an area of numerous support and resistance trading activities, where price may find support.
Stoch RSI Strength continues to weaken.
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Stoch RSI Strength continues to weaken.
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
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Passing The Purple Extended Line and The Green Horizontal Ray Support Line Will Trigger More Downside Price Action.
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Descending Triangle continues to press down on Bitcoin.
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Price movement to the downside.
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Targets: From $8535 down to $8061
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61.8 Golden Ratio On Fib Ret Tool Has Been Reached.
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Looking at the 15min chart, a Bullish Descending Channel and a Bullish Divergence is signaling a price reversal soon. Be watchful for another price dump though.
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Still eyeing on that sweet 0.382 spot on the Fib Ret Tool @ $8250 - $8222.
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Bear Flag may be forming here, could see another drop. Watching the 0.5 Fib Level.
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Rising Wedge, looking at $8550
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Both Fibonacci Retracement Tool and the Trend-Based Fibonacci Extension Tool laid out on this chart. Light Blue rectangle is the possible target if price drops from this Rising Wedge.
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First order of business, price has to get past the support for further downside price action. The base of the rising wedge is the area where price commonly reverts to. Bouncing off that support line could mean price has hit bottom.
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4Hour Chart
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Falling Wedge Breakout
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Falling Wedge breakout to upside.
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Ascending Triangle and RSI Bullish Divergence
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New Chart
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The Calm Before The Storm.
Chart now has Conglomeration Of Bullish Signals.
Chart now has Conglomeration Of Bullish Signals.
