Trades999
Long

Bitcoin, ready to rocket again?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear followers,

Let's provide you with a Bitcoin analysis again:

Buy: If BTC pulls back in buy zone or if we break out the triangle, or if we receive bullish confirmation (1)

Targets:
Target 1: $7362,- (If already in)
Target 2: $8363,-
Target 3: $9848,-
Target 4: $11157,-

Sell: If a daily candle closes below red line (2)

Analysis:
Bitcoin is still trading in its big descending triangle . It broke an important resistance level last week, the 50ma. The 50ma might form a new support level for BTC in its effort to break out the triangle. A full breakout occures, if a daily candle closes above the blue resistance line. This might be a signal for aggresive traders to buy. The conservative trader can wait for a close above the purple line (1) Furthermore, the macd crossed positive (buy signal) and the RSI is neutral. We have to sell if a daily candle closes below the strong red support line (2)

Don't hesistate to ask me questions.

Happy trading and good luck!

Hi I spent a lot of time looking at the data and this in Long View Conclusion
+1 Reply
Trades999 achtung360
@achtung360, Thanks for sharing
Reply
Spot on. Keep up the good analysis.
+1 Reply
Trades999 steviebrouwers91
Reply
What target 7362, if we have not touched 7000 yet?
+1 Reply
Trades999 destin2008
@destin2008, How do you mean?
Reply
s.flhti destin2008
@destin2008, It was a target in case upward trade didn't end. Which it did as of now, clearly.
Reply
s.flhti s.flhti
@s.flhti, trend*
Reply
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