I think there is a distinct possibility that Bitcoin will rally strongly in the coming weeks.
Entering long now with a wide stop and/or buying any dip as long as above 232.08 will yield a good risk/reward trade if proved to be valid.
Once this monthly bar closes, we will have confirmation of a monthly uptrend, and we already have a weekly signal in place, while price sits above the mode since the lowest low back in January.
Good luck!
Ivan.
Entering long now with a wide stop and/or buying any dip as long as above 232.08 will yield a good risk/reward trade if proved to be valid.
Once this monthly bar closes, we will have confirmation of a monthly uptrend, and we already have a weekly signal in place, while price sits above the mode since the lowest low back in January.
Good luck!
Ivan.
Trade closed: stop reached:
Target not hit, profitable long though.
