hello traders. self explained here however if you are new to trading please comment and i shall explain further. today i took the sell as it's looking to lose ground preparing the come back to the original price of the breakout. (then perhaps there could be confirmation of a buy to sail the uptrend.) until then....I'm looking to sell off and ride the train for the profits before i look into it and go any further! what do you traders think?
Init chart. Support and resistance levels and targets.
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Versuch den start der Parabolischenphase zu bestimmen.
The price has successfully broken above the resistance zone near 1.3430, confirming a bullish breakout. As long as the price remains above this zone, the momentum is expected to continue toward the next key resistance levels: First target: 1.35194 Second target: 1.36027 Final target zone: 1.36873 – 1.36899 A break and retest of the 1.3430 zone as support would further strengthen the bullish case. If the price falls back below 1.3430, then attention may shift to support at 1.33296 – 1.33278.
As we end April, we can see a similar size candle to the one we saw in April 2017 and, if we are still following the 2013 - 2017 Fractal ( even if a little loosely now) then we can expect the next Few months to lead to the Next ATH. However, as explained in the previous post about the Long Term Resistance Arc and how we may be in the Closing stages of the First Bitcoin Cycle, the over head resistance is STRONG ( dashed Arc ) These 2 lines of resistance at around 109K usd form an intersection and this is with little doubt the point to try and break through. Historically, BTC PA has tried to aim towards intersections of Trendlines when they have strength So, This is what I am expecting for MAY but I will explain this in more detail in the montlly Candle Colour post in a couple fo days What to expect The April candle Will close GREEN and we now need a Green MAY candle and this MAY candle needs to break over the dotted Threshold line, as it did in May 2017 And we have to wait and see if that happens