Red_Ben
Long

Bitcoin ready to break BULLISH!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin COINBASE: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.
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