BTC (BTC/USDT, 1D): Bulls Defended the Middle of the Channel

29 ส.ค. 2019

The coin fell off its uptrend acceleration. Currently, bulls defended the middle of the channel and on 4H chart, RSI is trying to form a bullish divergence. In order to continue an upward movement, the price should jump back on the dynamic line. The dynamic line is going to be the first resistance point for now. If we gonna break down the middle of the channel, then we gonna go to the lower support levels, which are 0.5 fibo level(8700-8900) and 0.3 fibo level. If you are in position - better to keep stop loss right under the middle of the channel. If you don't have a position - better keep your buy orders at 0.5 and 0.3 fibo levels. And in case if bulls decide to pull the price up from the current point - enter from a retest of the dynamic line. Good luck everyone!