Whats up traders, I hope you have all had a good trading week.
Here we have BTC/USD on the 2H chart.
Me and my private Crypto currency signals group have already been active in this trade since around 16400 and we all got out at 17800, so I have already monetized on this breakout move. Now I am expecting even more upside, to create another profitable move.
Recently, price has been in a consolidation area. Price has recently picked up some momentum, breaking out of the consolidation range. When analyzing the 2H chart, it appears that BTC/USD is going to have a move to the upside.
I believe that price will now continue to the upside, to my upside target of 20175, but before this I am expecting price to have a correction move to retest the previous horizontal resistance at (16500 and 17600) as a new support level.
This trade could play out in 2 ways, I have outlined them below.
-Price continues to rally to the upside to the upside target of 20175. Bare in mind if this plays out that there will likely be some corrections on the way to the upside target.
-Price may retest the horizontal resistance level turned support in between 16500 and 17600 before the new up move.This scenario would be the preferred trading plan because a retest on the horizontal support indicates we have a launchpad for higher move.
I am excited to see how this trade plays out. I think we could get a nice few up moves in this pair before Christmas.
I will update this analysis as the trade progresses.
Here we have BTC/USD on the 2H chart.
Me and my private Crypto currency signals group have already been active in this trade since around 16400 and we all got out at 17800, so I have already monetized on this breakout move. Now I am expecting even more upside, to create another profitable move.
Recently, price has been in a consolidation area. Price has recently picked up some momentum, breaking out of the consolidation range. When analyzing the 2H chart, it appears that BTC/USD is going to have a move to the upside.
I believe that price will now continue to the upside, to my upside target of 20175, but before this I am expecting price to have a correction move to retest the previous horizontal resistance at (16500 and 17600) as a new support level.
This trade could play out in 2 ways, I have outlined them below.
-Price continues to rally to the upside to the upside target of 20175. Bare in mind if this plays out that there will likely be some corrections on the way to the upside target.
-Price may retest the horizontal resistance level turned support in between 16500 and 17600 before the new up move.This scenario would be the preferred trading plan because a retest on the horizontal support indicates we have a launchpad for higher move.
I am excited to see how this trade plays out. I think we could get a nice few up moves in this pair before Christmas.
I will update this analysis as the trade progresses.
