TheCryptAlpha

Bitcoin Market Uptrend Continues

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We are looking at the first signs, and steps of a market reversal. The volume has died down significantly and the market seems to be ranging and neutral in essence. This is not a bad thing anything that allows us to spend as much time in these areas as possible will usually be a very good sign, dropping price action quickly is a sign that the prices are incorrect and market calls for lower prices.

There are multiple signs that we have exited the bear market and have been trending up and trading above critical moving averages, these averages will signal buyers to buy above them and short below to produce returns to their porfolios. Based on the history of BTC we have noticed that once we resolve the price action above the moving averages you will see that it continues on this trend for years to come.

Another interesting event that I have noticed with every halving we usually make one time high during the years between halvings and then return back down to the means essentially where the price is supported and only start to make new all-time highs during the next halving. This is something to consider that we might not be reaching up to $20K until the middle/end of 2020.

The short term, traders might want to standby until we have clear signals or breakout or downs. It is typically not recommended to trade during a sideways market as you might be faked into and out of your positions prematurely. You want a high volume good trending market to ride the trend into the direction making you profits.

Since our clear target is $20,000 (Previous ATH ) Is set in place, We are looking at any prices below $10,000 a buy. Shorting even in the short term might be very risky, and just an overall accumulation is suggested. I would focus on hedging your portfolio above the critical points and with clearer signs of market exhaustion. We have had great signs on the RSI / MACD and other indicators that are signaling for the past couple of months to have just been a minor accumulation and that we may see a nice trend to the upside resume. Since bitcoin is very volatile we suggest taking caution to trading especially with margin. Your best bet is to take your time and not jump on every move, try to get into a good position and hold it til your clear targets.

Current targets we are buying under $10,000. Price targets are $16,000 - $18,000 - $20,000 BTC Price. We will hedge against our positions to maximize profits during the moves down and or rejections of these targeted areas then accumulate during pullbacks.

I hope this helps - Best of luck!

Comments

Good view!
+1 Reply
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