Bitcoin - Finding A Region Of Confluence
20 W EMA was the support for the bottom in 2018, and it could also be the support for the next bottom.
There's a Region Of Confluence (ROC) for multiple lines from support and resistance including the 20 W EMA that could provide a possible area of price target if Bitcoin so chooses to further dip past 6K. The Fib level at the ROC is the 78.6% level.
Price level for ROC is at $5025.
The Resistance Line may continue to press Bitcoin down up until March 2020 before allowing it to finally breakout. If price still does not breakout of the resistance line by then the next possible breakout month will be in June 2020.
ATH price of 19K may possibly be reached by April 2021 if Bitcoin follows the light blue arc.
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Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
There's a Region Of Confluence (ROC) for multiple lines from support and resistance including the 20 W EMA that could provide a possible area of price target if Bitcoin so chooses to further dip past 6K. The Fib level at the ROC is the 78.6% level.
Price level for ROC is at $5025.
The Resistance Line may continue to press Bitcoin down up until March 2020 before allowing it to finally breakout. If price still does not breakout of the resistance line by then the next possible breakout month will be in June 2020.
ATH price of 19K may possibly be reached by April 2021 if Bitcoin follows the light blue arc.
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
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