Bitcoin price compression
Hi Guys.
Im in 1H timeframe and i think BTC price compressed between two line i drawn on my chart.
Also we can see a weak Divergence between RSI and Price action too.
This will lead the price to the lower line and despite there is a strong support line there , in 24000
the price will bouce back and go approch upper line.
So we can take 2 trades here:
1- Now with SL upper than latest minor peak
2- after reaching lower line and the bounce verified.
The price action around 24000 was very strong because you see two long shadowed candle in this area historically.
After this price compression ends , we shuold analysis again to see what will happen.
But in some extent , I think we break this Triangle upward and go toward 26000 target.
Hope you enjoy , thats just my idea NOT a trading Advice.
Trade on your own strategy but take ideas from others.
THANK YOU ALL
Im in 1H timeframe and i think BTC price compressed between two line i drawn on my chart.
Also we can see a weak Divergence between RSI and Price action too.
This will lead the price to the lower line and despite there is a strong support line there , in 24000
the price will bouce back and go approch upper line.
So we can take 2 trades here:
1- Now with SL upper than latest minor peak
2- after reaching lower line and the bounce verified.
The price action around 24000 was very strong because you see two long shadowed candle in this area historically.
After this price compression ends , we shuold analysis again to see what will happen.
But in some extent , I think we break this Triangle upward and go toward 26000 target.
Hope you enjoy , thats just my idea NOT a trading Advice.
Trade on your own strategy but take ideas from others.
THANK YOU ALL
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