BTCUSD 1h LONG/BULLISH - We're now approaching two very important lines, one is the Highlighted Blue Ray which indicates the previous low, this line is a support lime IF an hourly candles haves a wick below this line but it closes above, if this happens it's called a Swing Failure Pattern which indicates a possible reverse to the upside, if this doesn't happen than this line is worthless and we move to the next line which is our Daily and as you can see it is in a light blue box indicating we have a few confluences in this box, when this box is reached I expect one of these lines to hold as a strong support line and I personally will be laddering in long at each line, there is though a possibility of breaking all of these lines and going straight to the next support line below this one and so on, this is why you shouldn't rely on any TA before doing your own TA and research. This isn't trading advise but rather an idea that might take place, if this happens to go as planned we take profits at all Resistances (Linea above price) and move up our S/L as we take profits.
Trade ist aktiv:
We got a perfect bounce from the Daily + the SFP is active. AMAZING!