[BTC] Short term possible breakout
HI all, Crypto sludge here
Today was a decent day of corrections after the massive dip we had on Tuesday.
I believe we are getting close to a possible breakout
The 1H chart, we are about to test the itchi cloud resistance, and if we can break that, the next resistance is the TD make trend line @ 12.1K$ - passing that will be a major bullish signal for me for a short term "buy the breakout trade" with a target of 13.1k$.
If we fail this test, i am looking at Support 1 @ 10.1k (bottom of the cloud) then Support 2 @ 9487$ (Another TD make trend line ) and finally 8.7K$ as the last resort before total market meltdown :)
Let me know what you think, never invest more then you can afford to loose , and don't listen to random people on the internet, do your own research :)
Trade ON!
Crypto Sludge
The best place for stoplosses is a question. Maybe 11700... May be let it be.
Speaking words of wisdom,
Indeed, 11700 could probably be good stop loss but we didn't made the buy target so no body was supposed to buy in :D and as expected if we failed the breakout we are correcting downward.
I also made a drawing :p
Awesome!