seildev

BTC/USD 1st leg to NEW YEARS LONG TARGET INITIATED!!

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Seildev here

Today we’re looking at BTC/USD pair.

Right now it’s at 15825 and we can see some key elements:

- Breakout of downward wedge
- Respected horizontal zone 13075 has been respected (full body stays above discounting the wick)
- Full body candle close above 50 and 100 day EMA
- 1 Hour chart current bull flag forming for another leg up
- RSI divergence bullish

If we see full body candle close above 15288 then we are heading for another bullish leg taking us to our initial target 1 of 19617 and target 2 of 23019.

As always, trade with a plan and safe trading.
If you enjoyed this chart/analysis, please send me a PM and I’ll be glad to help you further.
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