BillCharison
Long

BTC - Are You Ready For Another Fly?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin price has formed an ascending channel, more likely we will move inside this channel in the coming days. So, if the price breaks through the upper edge of the channel - we would move further upward if the price breaks the bottom edge - we would go downward. However, let's take a closer look at the situation.

The strongest support level is located at $5850, there you can confidently open a LONG position with a tight Stop Loss because in case this level will be broken and the price fixed below - the priority will be changed to SHORT. Moreover, there is another strong support - $5950. At the moment we are located above the $6000 - $6030 level which is a super bullish sign. If the price takes hold at this level and above one - it would mean that BTC is ready for another upward movement. There is only one thing that makes me doubt - Fear and Greed Index, which is extremely high.

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