What's up traders, I hope you're all having a wonderful weekend.
Here we are analyzing BTC/USD on the 1D chart.
I posted a BTC/USD analysis lately, and it went perfectly to plan (See related ideas for details of this analysis). We are now seeing a new buy opportunity.
At current, price is trading at 8103 after breaking a long term side-wards resistance line on 12th April. It looks like we have a short term opportunity to buy if we can get a lower retest on the horizontal support zone and side-wards resistance turned support level at 7040. If price comes into the buy level and bounces, I am expecting an up move to one of two upside targets.
This trade is going to be a long term trade, for the upper targets to actually come to fruition. We can easily take advantage of short term buys as the daily trend progresses.
Price will now likely test the side-wards resistance as a new support and break out, or it will accumulate at the lows before the upside begins later.
I will update this analysis when I receive above 40 likes.
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Meant to put "I hope you're having a great trading week" not, "I hope you're all having a wonderful weekend"