Sentences with phrase «testing key resistance levels»
The post Markets Update: Bitcoin Bulls Are Back Testing Key Resistance Levels appeared first on Bitcoin News.
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Since we are close to testing and / or overcutting key resistance levels right now, it is very important to exercise caution and only take on potential long entries in ETFs and stocks with the most relative strength to the broad market:
In the above chart, not only could have we traded the pin bar sell signal from the key resistance level / event area, but on the subsequent test of that event area, we could have taken what I call a «blind entry» at the event area.
Key resistance is coming in up near 110.00 area and this level could cause price to rotate significantly lower again if it tests it in the coming days.