Bitcoin: Breakout!
Yesterday, Bitcoin didn't catch my Long position at $6380. Instead, there was a massive breakout and re-test the trendline at $6392; then Bitcoin jumped up to the higher ground at $6572 respectively.
It was a solid move, and many altcoins have followed the path of Bitcoin to share the same green.
Trade setup
As you can see, in a smaller timeframe, Bitcoin is trading within a resistance and support lines, which are great for setting a short trade here.
I have set up the following trade:
- Long from $6460 and Short from $6570. For either trade, I will close when I have got $20 in price difference.
For other altcoins, you should book some profit and wait for the retrace to re-enter again.
Please treat this information as reference and please trade with your full awareness of risk.
Want me to work on any coin? Comment your coins below, I will try my best to do simple Technical Analysis for you. Want to support me? Vote, resteeem, follow!
Sponsored ( Powered by dclick )
voted & dclicked~. Have a wonderful day!
Thank you!
Hi @coinbrew!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 0.000 which ranks you at #111879 across all Steem accounts.
Your rank has dropped 90 places in the last three days (old rank 111789).
In our last Algorithmic Curation Round, consisting of 265 contributions, your post is ranked at #253.
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server