Instrument: BTC/USDT
Time Frame: 2 hour
Exchange: KuCoin
Trading Type: Swing Trading
I thought the retest around $61,050 was completed, so I entered a long position (I didn’t share because I felt uncertain), but as expected, I got stopped out.
As a result, I now believe there is selling pressure in that zone. If we break through this IMPORTANT ZONE; POSSIBLE LONG SWITCHING ZONE and retest it, I think there's a chance to break through the downtrend line.
Even if we break through the downtrend line and retest, I personally believe that in order to fully switch to an upward trend (on the 15-minute chart), we need to break through the RETEST ZONE for the trend to continue stably.
The reason why I believe we need to break through the RETEST ZONE for the trend to continue stably can be understood by referring to the following image.
Even if we break through the downtrend line and retest, I personally believe that in order to fully switch to an upward trend (on the 15-minute chart), we need to break through the RETEST ZONE for the trend to continue stably.
I would appreciate it if you could refer to the following image to understand why breaking through the RETEST ZONE is important for continuing the trend stably.