BTC: Bulls Could Break Downward Channel!
Hello dear crypto friends, hope you're doing well! ;)
I wanna start of with what Rob posted yesterday in our group:
=> We afterwards discussed the probability for a mean reverting trade:
What does ist give us as trading opportunity?
Mean-reverting means that we're going against the trend. So in this case, we're betting on the bottom to hold. Our downside is 1-2% until the 9,8k region, where our trade is definitely invalidated, and it will mean that BTC will with high probability go towards 9,5k, and probably even break the Weekly Equilibrium bearish in that case.
But should 10k hold, we will have easy 8-10% upward potential, just until 11k alone.
If you're not a in trade yet, you could look out for the 10,2k to be broken, and essentially 10,3k to definitely get the break out of the channel.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
I wanna start of with what Rob posted yesterday in our group:
=> We afterwards discussed the probability for a mean reverting trade:
- We're still in the bullish downward channel, which will see a breakout coming eventually.
- We're at 10k psychological
- We're at the 61,8% as Rob perfectly pointed out
What does ist give us as trading opportunity?
Mean-reverting means that we're going against the trend. So in this case, we're betting on the bottom to hold. Our downside is 1-2% until the 9,8k region, where our trade is definitely invalidated, and it will mean that BTC will with high probability go towards 9,5k, and probably even break the Weekly Equilibrium bearish in that case.
But should 10k hold, we will have easy 8-10% upward potential, just until 11k alone.
If you're not a in trade yet, you could look out for the 10,2k to be broken, and essentially 10,3k to definitely get the break out of the channel.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
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