The security is the future contract of Bitcoin (JUL):
Why we think it goes up:
- Bitcoin Completed a Head and Shoulder in H4 with a clear break up of neckline.
- Also the upper side of a congestion triangles is broken
- The fibonacci retracement (from 7500 to highest top) is valid and the security is going to continue it's upward trend.
- MACD had a bullish cross above its zero line.
- Moving average (20) is broken by the price.
- There is also a 4 to 5 impulse forming in H4.
- The is also a long body bullish candle in H4
Buy at: 12085$
Stop: Under 38% level of fibonacci: 11400 (685$)
Profit: the first target of H&Sh pattern, which is almost the previous high of the price: 14400 (2315$)
Why we think it goes up:
- Bitcoin Completed a Head and Shoulder in H4 with a clear break up of neckline.
- Also the upper side of a congestion triangles is broken
- The fibonacci retracement (from 7500 to highest top) is valid and the security is going to continue it's upward trend.
- MACD had a bullish cross above its zero line.
- Moving average (20) is broken by the price.
- There is also a 4 to 5 impulse forming in H4.
- The is also a long body bullish candle in H4
Buy at: 12085$
Stop: Under 38% level of fibonacci: 11400 (685$)
Profit: the first target of H&Sh pattern, which is almost the previous high of the price: 14400 (2315$)