Happy Thirsty Thursday, Traders!

Hope you find value from this post.

If you did, please give it a like and consider following.

Here’s a trading idea.

But firstly…

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Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
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Bitcoin pushed towards the 200D MA and got rejected.

What’s happening next?

Bitcoin could rebound from the Blue Horizontal Support Bar and continue its bull run.

If the Blue Horizontal Bar fails to hold as support, I’m expecting Bitcoin to dip down towards its 50D MA which could be down to $42K – $41K.
We’ll find out how the momentum is as it reaches that level, either Bitcoin will bounce back up or break it to continue its bearish move, but and we’ll cross that bridge when we get there.

For now, the first order of business for the bulls is to hold the White Extended Trend Line as support. If the bulls are able to defend the White Extended Trend Line , then the next price target above will be $51K @ the 50% Fib Level.

Stoch RSI (1Wk TF): Huge upside potential!

Always remember to place your Stop Loss.

Price action is KING!

Patience and Discipline are KEYS to a successful trade.

Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.

Be PERSISTENT and stay PERSISTENT.

Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.

If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.

More power to all your trades, my friends!

Ron
Intrepid_Trader