Trading View Charts: a.shevelev002
OVERALL TONE:
This is simply a no trade zone. Wait for confirmation, volume and the direction.
The above chart (prices as per Bitfinex) shows:
Long-term descending trendline breached: signals a long-term bullish-to-bearish trend
5-day moving average (MA) and the 10-day MA are trending north, indicating a short-term bullish
The 200-day MA resistance is at $9,737
A pullback from $9,060 but still bullish outlook.
Revisiting trendline support (former resistance) before support above the $9,000 ma
The bullish breakout suggests the test of the 200-day MA ($9,737)
Daily close below the ascending (bullish biased) 10-day MA would signal bullish invalidation.
Watch, follow and upvote Phil's TA here:
If my research benefits you please upvote. Thanks and great trading for all!
#bitcoin #btc #cryptonews #cryptocurrency
SEE THE APRIL 22 (EARTH DAY) A.M.
MORNING UPDATE BY PHILAKONE:
22 APRIL 2018
VALIDATION BREAK TARGETS:
BULLISH TREND WOULD INCLUDE A BREAK ABOVE $9037 - 9250
BEARISH TREND IS BREAK BELOW: $8616
BEARISH LOOKS MORE PROMISING
Great Trading Ideas:
CONFIRM THE TREND (Posssibilities) Before Enter/exit, trade.
Add more to position when/if break-out occursSet stop-loss. (tight like $8900)
Have enter/exit targets. Calculate Risk/Reward Ratios
Play 1-5% only, stagger enter positions
Congratulations @fieldsofgold! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
To support your work, I also upvoted your post!
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPAhhh, thank you!