Bitcoin quick update!
Hello guys!
Yesterday we were victims of a fake breakout that occured in the 1H technical perspective , from a 4H perspective BTC is still consolidating inside this bullish pennant.
1. If we see another breakout FROM the 4H timeframe , this time with a 10 pip stop loss under trend line, wait for volume to confirm that bulls are ready to run.
2. The RSI indicator is giving signs of a bullish divergence, which is a key of support at this level of bullish pennant pattern, if this plays a role we're ready to pump at the regions I gave yesterday which were 10,700-10,800.
3. The price is consolidating above my minor support which again is aligning with the .782/.618 levels of fibonacci levels, this is another big role that supports our trading idea.
4. Keep in mind, place your trades when the price BREAKS the upper trend line.
Let's see how this plays out.
Yesterday we were victims of a fake breakout that occured in the 1H technical perspective , from a 4H perspective BTC is still consolidating inside this bullish pennant.
1. If we see another breakout FROM the 4H timeframe , this time with a 10 pip stop loss under trend line, wait for volume to confirm that bulls are ready to run.
2. The RSI indicator is giving signs of a bullish divergence, which is a key of support at this level of bullish pennant pattern, if this plays a role we're ready to pump at the regions I gave yesterday which were 10,700-10,800.
3. The price is consolidating above my minor support which again is aligning with the .782/.618 levels of fibonacci levels, this is another big role that supports our trading idea.
4. Keep in mind, place your trades when the price BREAKS the upper trend line.
Let's see how this plays out.
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