Hey team,
As Bitcoin headed into the weekend, price bounced perfectly off our higher time frame zone.
Quoted below from the post I just linked to above:
BTC/USD Daily:
As you know from my simple support/resistance trading strategy, above higher time frame resistance we're only looking to buy.
So after zooming into the Bitcoin hourly chart, this is what we were presented with:
BTC/USD Hourly:
After price bounced out of the higher time frame zone, we find the first area of short term resistance that when retested as support, can be used as an entry.
In this case things weren't as clean as I ideally like them, but as this is real trading and nothing is as clean as the textbooks tell you, this is what we have to work with.
You can see that we have somewhat of a short term intraday resistance zone that was retested as support before the real bounce.
One thing we do know is that price often gives us a second chance to enter.
If you missed out, that second chance could be just around the corner.
Patience, young padawan.
Best of probabilities to you,
Dane.
FOREX BROKR | LeoFinance Blog
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