Good day folks,
More I look at the chart, more I think that there is a big move coming in BTC. Looks like BTC is making a reversal pattern, however, it remains a bit early to tell imo.
Bullish scenario 1 (green): this is my favourite as it would be a cheaper and safer entry. Also, the chart still looks bearish in the short-term. I would initiate a long position around 3200.
Bullish scenario 2 (purple): if it continues to bull for the next few weeks, we could have a breakout of 4200. In this case, I would open a long.
Bearish scenario: well, if 3200 doesn’t hold, next support is at 2000.
Thank you,
More I look at the chart, more I think that there is a big move coming in BTC. Looks like BTC is making a reversal pattern, however, it remains a bit early to tell imo.
Bullish scenario 1 (green): this is my favourite as it would be a cheaper and safer entry. Also, the chart still looks bearish in the short-term. I would initiate a long position around 3200.
Bullish scenario 2 (purple): if it continues to bull for the next few weeks, we could have a breakout of 4200. In this case, I would open a long.
Bearish scenario: well, if 3200 doesn’t hold, next support is at 2000.
Thank you,
Comment:
Bullish scenario 2 is out of the question; so let's see if 3200 hold.
Trade closed: target reached