BTCUSD 30m BINANCE, Resistance at $12,100 - $12,700 -$13,100

Looking at $12,100 / $12,700 and $13,100 as resistance levels based on Fib retracement levels as well as channel resistance. If we don't break below the short term trend line, at $11,000, then expecting a little run up to the resistance levels between $12,000-12,700. Expecting this to unfold over the next 8-12 hours.

Komentar:

If it breaks down below $11,000, I expect a head and shoulders pattern with bounce support around $10,400, with potential panic selling below the $9000 levels, down to the $7500-$7700 levels (over 24-36 hours)

Komentar:

BTC held the $11,000 mark and bounced up to the trend line at the expected $12700. It pushed through to $13,100 as I predicted it may and faced resistance there as well. It's back down to the long term trend line right now.

Komentar:

I closed a position early around $12500, and could/should have waited for it to hit $13,000 as the fib resistance line. However, all in all, successful trade.

Wait and see from here to see which way BTC is trending.