BTC/USD Technical Analysis UPDATE @ $8180 - Feb 7th 2018 (and ETH)

in #bitcoin7 years ago

In my previous post https://steemit.com/bitcoin/@jagr/btcusd-technical-analysis-update-usd7779-feb-7th-2018 I was looking for bullish confirmation after the bounce of the S/R 3 zone and red Kijun line. Well BTC provided some bullish confirmation in the form of those to latest green candles you see by my red arrow.

btc0207-1.JPG

So, since I'm using BTC as an indicator of the market, I went over to my ETH chart to make sure i was good to enter in a trade. Looking at ETH, the same thing is going on. Bullish candle after bouncing off Kijun line.eth0207-1.JPG

And look at that horizontal S/R level on ETH. That's what I'm looking for. We broke through the S/R level upwards, dipped down to it and then confirmed a bounce off. So, I've entered in my ETH trade. Mind you, it's not much, cause I'm still waiting for possible drawdowns and better discounts. But, I may take some quick profits with this (or just my principal).

Note that this is not financial advice. This is just my own trade blog & journal. It keeps me in line.

Thanks @adsactly