Range Play For A Breakout. (BTC)
已更新
😁 Hello, hope all is going well with your trading this month!
Today I would like to go over Bitcoins current range.
Bitcoin has been traveling in the upward channel that we have drawn out for you.
You notice that we have been rejected twice slightly below the major 10k Resistance with a potential double top pattern in play.
The double top can be signs of failure to break upon Resistance.
The upward green support that we are approaching is a major position that needs to hold.
We are getting compression on our daily green candle to form a doji.
Dojis represents indecision and we use those candles to identify potential accumulation and distribution zones.
My current ranges that I'm watching is 9.2k - 9.8k - 10k
I am not worried about taking a position currently.
I am more focused on playing the edge plays on the breakouts since we are at a very strong key level of decision.
Based upon which breaks first I think it's a very good area for along term play on larger timeframes.
Hope you all have an awesome day, take care!
🥇 MLT| PRO TRADERS
Today I would like to go over Bitcoins current range.
Bitcoin has been traveling in the upward channel that we have drawn out for you.
You notice that we have been rejected twice slightly below the major 10k Resistance with a potential double top pattern in play.
The double top can be signs of failure to break upon Resistance.
The upward green support that we are approaching is a major position that needs to hold.
We are getting compression on our daily green candle to form a doji.
Dojis represents indecision and we use those candles to identify potential accumulation and distribution zones.
My current ranges that I'm watching is 9.2k - 9.8k - 10k
I am not worried about taking a position currently.
I am more focused on playing the edge plays on the breakouts since we are at a very strong key level of decision.
Based upon which breaks first I think it's a very good area for along term play on larger timeframes.
Hope you all have an awesome day, take care!
🥇 MLT| PRO TRADERS
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