Long Trade for BTC 5/7/2018
Daily Chart Analysis for USD/BITCOIN(BTC) H1 Time Frame
Monday's market open between the support and resistance zone it has been respecting past two weeks.
Price created a FOBO (FakeOut-BreakOut) breaking resistance zone @9746.9 and trying to get to $10 000, but price quickly come back between resistance a support zone.
So, price seems to keep moving sideways, to see a significant change in price for Bitcoin we must wait for a decisive break out of these areas. We won't see price going higher than $9 800 until price breaks that resistance with strength.
Price is been hold by the trend line and is giving us a nice entry right now to go back to the resistance zone.
Monday's market open between the support and resistance zone it has been respecting past two weeks.
Price created a FOBO (FakeOut-BreakOut) breaking resistance zone @9746.9 and trying to get to $10 000, but price quickly come back between resistance a support zone.
So, price seems to keep moving sideways, to see a significant change in price for Bitcoin we must wait for a decisive break out of these areas. We won't see price going higher than $9 800 until price breaks that resistance with strength.
Price is been hold by the trend line and is giving us a nice entry right now to go back to the resistance zone.
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