Price Action Trading - Friday 30th June (BTC, ETH, STEEM)
Let's take a look a look at the charts for the day...
BITCOIN
Bitcoin is still getting squeezed within the wedge. Not an ideal place to enter a trade for my strategy. The bears are defending the resistance line whilst the bulls are trying to establish a new channel. I expect the bulls to win out eventually but too early to look for a setup. We could see some fireworks in either direction once the wedge ends.
ETHEREUM
Ethereum is trading as expected with a correction to the ema and some congestion in the battle zone. Try to avoid trading into the battle zone (congestion area) as price can reverse easily. The bulls would have to have their eyes on that measured move target.
STEEM
Steem is like watching paint dry due to being in the middle of a range. I reckon its headed for the lower bull channel line before the bulls become interested again.
If you want to check out my previous posts you can always check my track record.
https://steemit.com/cryptocurrencies/@pmsas/price-forecast-for-day-traders-btc-steem-eth
https://steemit.com/trading/@pmsas/btc-usdt-outlook-for-wednesday-28-6-17-price-action-trading
https://steemit.com/trading/@pmsas/price-action-27-6-17-steem-btc-btc-usd
If this helped you formulate a plan for the day don't forget to upvote. I am still working out the best format to deliver useful information to my followers so if you have any feedback - let me know.. Good Trading!
I like your analyses, the language you used is awesome. Upvoted and followed. Feel free to check out the opportunity I identified also if you'd like :)
I just pulled the trigger on a long position in Stellar...feel free to check out my chart analysis on why I took this position, I think its an awesome opportunity, and its for a >4 reward/risk ratio. Feel free to follow if you want to see future opportunities I find.
Stellar Chart Analysis - Great Opportunity
Best of luck,
@cryptounicorn
Thanks! followed u