Bullish Bitcoin breakout possible until the end of this week

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
870 2 15
End of the downtrend? Bears were not able to break the uptrend. It could still happen, but the probability is decreasing with each more day above 1400 CNY             . The uptrend could start with baby steps around Wednesday Feb 25 to Thursday Feb 26 and a bullish breakout could begin to happen on Friday Feb 27 or during the weekend. Gold             is also in a bullish start position as of today.

Signals: MACD is bullish and crossed above the zero line for the first time since November 2014. And the DMI is also showing a bullish trend .

Long position entry: If the price breaks the 1497 CNY             - 1500 CNY             resistance
Stop loss price recommendation: 1450 CNY            
Profit targets: 1575 CNY             and up to 1650 CNY            
i'm still on the fences but acknowledge this could go either way. i'd rather have it break up, though.
Looking good....
+2 Reply
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