This is a possible LONG trade for the reasons pointed below:
-BTC touched a strong Ascending Trendline and rejected it with an engulfing candle on the 1h Chart;
-This touch on the Trendline coincided with a Support Zone of 33400-35000;
-It also coincided on the Fib Retracement's golden zone of 0.618-0.65;
-After the touch, price went up, retraced a little bit making a higher low and then took of his previous higher high, indicating a bullish move.
Use stop-loss, a good risk management and remember this is not financial advice.
-BTC touched a strong Ascending Trendline and rejected it with an engulfing candle on the 1h Chart;
-This touch on the Trendline coincided with a Support Zone of 33400-35000;
-It also coincided on the Fib Retracement's golden zone of 0.618-0.65;
-After the touch, price went up, retraced a little bit making a higher low and then took of his previous higher high, indicating a bullish move.
Use stop-loss, a good risk management and remember this is not financial advice.