Interesting night last night, just getting moving over here ont he West Coast (EST) -
We had a breakdown below the Cyan Support Line and hit a key support zone that I identified in a previous chart. I made some quick profits on a tight scalp with that move, hopefully some others did as well.
Some of you will be irritated by my post, but my intention is to try and predict all POSSIBLE paths that bitcoin can take - not to predict the one that it WILL take. With that said, I believe bitcoin will follow one of the following three paths, identified as A,B,C below:
Path A: Breakthrough the current resistance zone and head up towards 9450-9550, at which point we would reanalyze. Path B & C: Bounce off the current resistance zone back down to the previous support zone - Path B Continued: Push up and out and basically continue along the path of A Path C Continued: Collapse through the previous support zone after a retest, and proceed downward at which point we would reanalyze.
I am not in an open position at the moment. I am waiting for the chart to develop before entering a trade. It is too indecisive for me at the current time given my trading style and system.
Good Luck All - give me ten likes and I will update this chart. See you on the trading floor.
White Line - Previous Support / Now a Resistance Grey / Purple Boxes - Support and Resistance Zones Purple Lines - Falling Wedge with Break Out Confirmed Cyan Lines - Previous Bullish Channel Lines Green Bubble - Area of Interest from Last Night Yellow Lines - Possible Moves
-Nix
交易進行
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LONG 50x SL 9285 TP 9350
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Bear Flag Painted on the 15 min chart
Volume Reducing since the spike -
Looking good for another breakout - but as always, be aware of traps.
Stop Losses and Take Profits, Position Sizing, are most important
交易結束:目標達成
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Sorry for the delay on the chart, I closed that trade out around 9335 yesterday afternoon. It was a short term scalp.
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Pretty tight ranging for a few days now - not much to get excited about here with bitcoin for the time being