Is BTCUSD third attempt at 24919 going to hold?(1)

14 sept 2023

This is the third swing low of Bitcoin on the daily timeframe. We will track and see if this holds to become a weekly bottom. The difference with this bottom confirmation is that there has been a trend change from a downtrend to an uptrend as shown in the chart image. However,the volume spike is not huge. Another thing that we have observed is that the price level of 24756 on the weekly timeframe has held and has not been broken yet to give a trend change. Hence weekly is still in uptrend as in image below. We have now entered this trade on 4h confirmation bar on a reduced risk in review of the reasons above.

Trade order details

BTCUSD(Long)

E - 26086
SL - 24919
T - TBC

We will be tracking this move and updating the post as we go along on the charts and on video. Keep a look out for it traders.

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Refn Image of Weekly timeframe