weslad

Bitcoin: what next after major breakout!!!

weslad Premium Updated   
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hello guys,

As we all know Bitcoin breakthrough major market trend line and so far the re-test is done with nice bounced but I believe to make this trend breakout valid we should expect one or more re-test on this trend zone.

If you could recall my last analysis which proposed immediate test on 12k zone after discovering potential BAT formation on BTC . This view remain very valid and we can count on it and wait for possible retracement after the BAT target is achieved.

We should focus more on the final target of this analysis to be our immediate resistance and possible sell off zone.


If BTC play to this idea then our long term buy zone will be towards 8k-8k5 zone.

Note:
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Set up an entry/exit strategy for every trade, with good risk/reward ratio.

Kindly go through the chart and do leave us your comments to let us know how you feel about our view,

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Trade active
Trade active:
BTC Approaches potential sell off zone, but mind you we got strong news today which is strengthen the bull at the moment, I will prefer us to wait and see market reaction here 13000-13300.

If market break through this level then next major resistance is at 14,350$.

Trade closed: target reached:
Target achieved on the long side, still waiting for major reversal to short.

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