BTC UPDATE: THURSDAY 10.3.19: CRITICAL DEVELOPMENTS

Тема в разделе "English", создана пользователем Trading Ideas, 3 окт 2019.

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    BTC UPDATE: THURSDAY 10.3.19: CRITICAL DEVELOPMENTS
    BTC/USD COINBASE:BTCUSD
    YEHOK
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    Good morning all and happy Thursday!

    Leave a like and comment if you enjoy these updates!

    Remember the only thing we control in the market is risk management!

    In yesterday’s update we discussed the possibility of the gold channel playing out until the end. It seemed to have broken out early but did not follow through or hold support when back testing the resistance line. Price is now back in the channel and could potentially be forming another pattern. The dotted white lines represent a wedge formation if using the recent high and low points made since last night. Price has fallen below the 0.382 and fell just under the 0.5. I have mapped out the moves to look out for in this recent price action. Breaking below either of these patterns and ultimately the previous lows at $7,700, would be detrimental and most likely cause a sell off that would not hold support until the $7,000 range.

    idea-image-placeholder.svg


    1H chart BTC stuck now under resistance but over support
    Remember this is only my opinion ! Let me know what you think !
     
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