BCHBTC Poised for Move Up - Prudence

As you can see the resistance is the 3 Day Rolling Pivot Range high, that's the higher set of green dots. This is a key level that if broken through could carry us to higher levels. Already the price tested this level and failed. It wants to test it again.

Take note of the stop loss at the Opening Range low and the first profit target. There is a second profit target as noted by the green bar higher up. This is fast approaching the breakout level so I will publish now .

Stay tuned. I will update this as we progress.

Kommentera:

Well, no breakout! Technically, the market has broken support and the short term bias has temporarily turned to the downside. While the price did approach a test of the swing high at the 3 Day RPR, it failed to breakout.

I would continue to watch this level of 0.11307542 as the breakout point for the near term (next few days) as valid level to get long.

Keep in mind, if the market continues to drift lower or make new lows on a consistent basis, this would eventually make this level insignificant as new support and resistance levels would form and become more relevant.

Ask me any questions along the way to learn my system. It's easier than you think. And once you have the basics, sprinkle in a little screen time, and you will be able to spot excellent trading opportunities everyday.