BitcoinLong
BTC Upwards Channel and Long Idea
Updated
Hi guys,
This is my first idea on TradingView and I am relatively new to technical analysis. I would love to hear your feedback.
An upward channel currently exists for BTCUSD (which can be better seen from the Daily chart). As long as the channel boundaries remain in place, the upwards bullish movement will continue.
If we take a look at the Weekly Ichimoku indicator, we can see that the price has entered the lower portion of the cloud. This means that there is a good chance that the price will try test the upwards boundary of the cloud (being $10800). This will only take place once we clear and flip the $10000 resistance (and mental barrier) that is in place at the moment.
I am net long BTC as long as this channel remains in play (see the Daily chart for a better view).
I would love to get your views and comments. Let me know what you thinkk
This is my first idea on TradingView and I am relatively new to technical analysis. I would love to hear your feedback.
An upward channel currently exists for BTCUSD (which can be better seen from the Daily chart). As long as the channel boundaries remain in place, the upwards bullish movement will continue.
If we take a look at the Weekly Ichimoku indicator, we can see that the price has entered the lower portion of the cloud. This means that there is a good chance that the price will try test the upwards boundary of the cloud (being $10800). This will only take place once we clear and flip the $10000 resistance (and mental barrier) that is in place at the moment.
I am net long BTC as long as this channel remains in play (see the Daily chart for a better view).
I would love to get your views and comments. Let me know what you thinkk
Trade closed: target reached
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