Bearish Bitcoin Continuation Scenario
On todays IML TV Session we discussed the possibility of seeing price continue down to lower levels... we have identified THREE price action zones and colour coded them accordingly
The YELLOW area represents our potential entry IF price gives a nice retracement during the Asian / London Markets... expecting this move to have signaled bearish intent by New York Session as of 03/23 2018
The white zone represents potential stop loss because there is a possibility for price to go higher towards 9350 and IF that happens we will have to reevaluate price action itself
Blue area represents TP range one... second area to TP is closer to 7500 and then looking lower at 7000 down to the most recent structure low of 6k
Happy Trading Traders
Confirmations include momentum, candlestick patterns, volume, market sentiment, fundamental influences, media awareness, market structure and technical indicators*
Trading can contain substantial risk and is not suited for every investor. An investor could potentially lose all or more than their initial investment. "Risk capital" - is money that can be lost without jeopardizing ones financial security or life style. Only "risk capital" should be used for trading and only those with sufficient risk capital should consider trading. iMarketsLive is not a licensed financial advisor nor does it or give out financial advice. The user of IML products and/or services assumes full risk and responsibility for their trading activity. Past performance is not indicative of future results. Individual results will vary due to a variety of market and timing conditions.
The YELLOW area represents our potential entry IF price gives a nice retracement during the Asian / London Markets... expecting this move to have signaled bearish intent by New York Session as of 03/23 2018
The white zone represents potential stop loss because there is a possibility for price to go higher towards 9350 and IF that happens we will have to reevaluate price action itself
Blue area represents TP range one... second area to TP is closer to 7500 and then looking lower at 7000 down to the most recent structure low of 6k
Happy Trading Traders
Confirmations include momentum, candlestick patterns, volume, market sentiment, fundamental influences, media awareness, market structure and technical indicators*
Trading can contain substantial risk and is not suited for every investor. An investor could potentially lose all or more than their initial investment. "Risk capital" - is money that can be lost without jeopardizing ones financial security or life style. Only "risk capital" should be used for trading and only those with sufficient risk capital should consider trading. iMarketsLive is not a licensed financial advisor nor does it or give out financial advice. The user of IML products and/or services assumes full risk and responsibility for their trading activity. Past performance is not indicative of future results. Individual results will vary due to a variety of market and timing conditions.
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