Bitcoin Bears Charge On While Bulls Patiently Await Their Prey
This move by the bears could be an opportunity in the works for the bulls.
Patience, Patience, Patience.
Soon a Bullish Divergence on the RSI will be revealed if price dips lower than $8050 and possibly down to the 78.6% - 84% Fibonacci Levels ($7869 - $7753).
The bears will eventually be exhausted and the bulls will start to gore their way to the top of this channel to again break the resistance above them.
Patience, Patience, Patience.
*** 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)
Patience, Patience, Patience.
Soon a Bullish Divergence on the RSI will be revealed if price dips lower than $8050 and possibly down to the 78.6% - 84% Fibonacci Levels ($7869 - $7753).
The bears will eventually be exhausted and the bulls will start to gore their way to the top of this channel to again break the resistance above them.
Patience, Patience, Patience.
*** 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)
Commentaire:
Bulls could be looking to the 55W EMA for potential support and price reversal at the $7925 level.
