BITCOIN - TRIO RETEST!

9 janv. 2022

Hello Trading Family, BITCOIN is sitting around a strong rejection area. What I call "TRIO RETEST"

Here is why => The Highlighted Purple Circle is the intersection of three key rejection levels/zones.

Retest 1: Horizontal Support
The 38k - 40k zone in green is a previous resistance turned into support.

Retest 2: Non-Horizontal Support
Bitcoin is overall bullish from a long-term perspective and currently testing the brown trendline which acts as non-horizontal support.

Retest 3: Demand Zone
The 38k - 40k zone is also a demand zone as we previously had an explosive movement from it.

As per my trading style/plan:
I will zoom in to lower timeframes and look for bullish reversal setups (like a double bottom, trendline break, and so on...)

Always follow your trading plan regarding entry, risk management, and trade management.

Good Luck

All Strategies Are Good; If Managed Properly!
~Rich