Bitcoin
BTCUSD
is flashing bullish signals on the DAILY CHART! The Ichimoku system suggests buying dips in this 3700-3800 price zone over the next 4-7 days could be the last chance in a while to snag some under 4k. Higher lows on the hourly chart, the 200 moving average on the weekly chart, coupled with a kumo breakout on the daily could dial up a VERY strong move higher. Either load up on the dip, or wait for that daily close over 4k now that the lagging line along with a bullish cloud twist has confirmed the consolidation phase is ending. However, be aware that all those bears who are heavily short will be panic-buying like crazy if we close a day over 4k....Maybe we stop at 5k and pause...or maybe not. Either way, the odds are great here to get long, and I'm adding on dips.
BTCUSD
is flashing bullish signals on the DAILY CHART! The Ichimoku system suggests buying dips in this 3700-3800 price zone over the next 4-7 days could be the last chance in a while to snag some under 4k. Higher lows on the hourly chart, the 200 moving average on the weekly chart, coupled with a kumo breakout on the daily could dial up a VERY strong move higher. Either load up on the dip, or wait for that daily close over 4k now that the lagging line along with a bullish cloud twist has confirmed the consolidation phase is ending. However, be aware that all those bears who are heavily short will be panic-buying like crazy if we close a day over 4k....Maybe we stop at 5k and pause...or maybe not. Either way, the odds are great here to get long, and I'm adding on dips.
Comment:
Staying long here. Watching for a continuation pattern (bull flag, perhaps) and higher. 5300 or so is where I'll take a little off and buy again on a dip. Trailing a stop for now.
Comment:
Noted some bearish divergence today, so taking some profits here. We may need to pull back to the 200 ma or the long-term downtrend line so the market can confirm there are still buyers there. I'll set buy orders near these spots to re-enter what I'm taking off the table today.
Comment:
We've worked off the bearish divergence and are now demonstrating bulls are still in control. 100% long.