After a strong upward movement, the coin started a correction. The price reached 33.50$ level and now it is a new resistance zone. If we talk about possible buying opportunities, I would like to draw your attention to the support zone formed by 26.00$ support level and SMA50. If the price reaches this zone and we get a reversal, it will be possible to open long positions with a stop below the support zone and the local swing low. The profit target will be at 33.50$ resistance.
It is possible to buy above 30.00$ following the breakout signal above SMA20. But I don't like such a signal as it is not so reliable as the 1st buying opportunity from the solid support zone.
Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
I was going to say $25 would be more likely at the 0.5 fib level along with the BB etc. I'm waiting for the indicators to cross over with a bullish candle.
Good job.
Yes we had a buy in at 26 range. Going to be huge gains! Bitcoin is pumping when it stalls the alts will start coming up:) I think BTC might make a run back to 12k wipe out all the shorts at 11k
DLavrov
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@MosaicExchange, maybe! thanks for the comment!
sriz16
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@MosaicExchange, Stimulus money is coming in - a new rally is on its way .