BTC tests 10K range. Will it hold?
On a 4 hour chart, we see BTC slightly close above the 55 EMA, but was rejected quickly. Along with the RSI, we cannot break into the bullish 4 hour zone above 60+.
Where is the 5th wave on C? We see a 1:1 extension for wave 3 of wave 1. We will most likely test $10K ranges first. If that falls, we will test $9,200 ranges. Then most definitely high $8K ranges if the previous low of $9,200 fails.
Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders
Please consider these videos:
Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - Tutorial Part 2 How to Analyze Candlesticks Charts with Strategy
Lesson 3- Let's learn Moving Averages
Lesson 4- Let's Learn Relative Strength Index RSI with Advanced Strategy
Lesson 5 Let's Learn MACD and Histogram
Lesson 6 Let's Learn Margin Trading Long, Short, Leveraging
Lesson 7 Let's Learn Basic Risk Management
Lesson 8 Let's Learn Fibonacci Retracement Part 1
Lesson 9 Let's Learn Fibonacci Extension Part 2
Lesson 10 Quick Intro to Analyzing Level 2
Lesson 11 Introduction to Laddering
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