Trade Alert - Take Profit Bitcoin
Took half off near 30k. Moved stops up to buy in avg of 26.4k to ensure profit.
Now, a bit of TA. BTC broke above the descending Dec ‘21 TL. This was hugely bullish and I mentioned in my paid subs group that if this happened we’d retest that $30,500 resistance quickly. This we did and are doing now.
The big question is will $30,500 be broken to the upside. If you are in that camp, then you can still expect a pullback before we do so. The green arrow is my projection of future price movement with bias to the upside of 30.5k.
If you are not in the camp that this critical resistance will be broken soon, then this could be a double top pattern on the weekly which would take us back down to our gap fill at 20k on the CME futures chart.
In either case, I don’t expect us to break straight through that $30,500 barrier above. But, in crypto, the unexpected often occurs. If we break through, I’ll need to see confirmation on the daily and that level being utilized for support before I look to re-enter and buy more BTC.
Congrats on your trade here followers!
Stew
Now, a bit of TA. BTC broke above the descending Dec ‘21 TL. This was hugely bullish and I mentioned in my paid subs group that if this happened we’d retest that $30,500 resistance quickly. This we did and are doing now.
The big question is will $30,500 be broken to the upside. If you are in that camp, then you can still expect a pullback before we do so. The green arrow is my projection of future price movement with bias to the upside of 30.5k.
If you are not in the camp that this critical resistance will be broken soon, then this could be a double top pattern on the weekly which would take us back down to our gap fill at 20k on the CME futures chart.
In either case, I don’t expect us to break straight through that $30,500 barrier above. But, in crypto, the unexpected often occurs. If we break through, I’ll need to see confirmation on the daily and that level being utilized for support before I look to re-enter and buy more BTC.
Congrats on your trade here followers!
Stew
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
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