BTC/USD - Breakout
Bitcoin has finally broken the side-wards resistance line, and where to better to do so than straight after bouncing off side-wards support? A perfect example of a classic breakout in prime buy area. I stand by this analysis which I went into great detail with in my previous analysis (See related ideas below the idea for more information) and now we're looking ahead of this analysis post breakout.
Now price has broken out, there's some basic rules/criteria to be filled for a breakout to be productive. First of all, price should look to retest the side-wards resistance soon. Better yet, after breaking consolidation support and coming to retest around there before hiking to the upside afterward.
Some of you noticed I am not in the top authors lately, and yes that's correct. As I work in wealth management it's impossible to have time to become a top author and stay there as my schedule is absolutely packed. I don't have as much time as normal retail traders to stay in the top authors as I don't have time to post 6/7 ideas a day. Was lucky to be there in the first place :-)
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
Support my analysis be leaving a LIKE and FOLLOW. It helps the channel grow and motivates me to post daily free content. :-)
Now price has broken out, there's some basic rules/criteria to be filled for a breakout to be productive. First of all, price should look to retest the side-wards resistance soon. Better yet, after breaking consolidation support and coming to retest around there before hiking to the upside afterward.
Some of you noticed I am not in the top authors lately, and yes that's correct. As I work in wealth management it's impossible to have time to become a top author and stay there as my schedule is absolutely packed. I don't have as much time as normal retail traders to stay in the top authors as I don't have time to post 6/7 ideas a day. Was lucky to be there in the first place :-)
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
Support my analysis be leaving a LIKE and FOLLOW. It helps the channel grow and motivates me to post daily free content. :-)
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