InvestingScope

BTCUSD: MACD roll over or Support cross? Trade the break out.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has been trading on a 4H Channel Down ( RSI = 51.657, ADX = 34.553, Highs/Lows = 0.0000) glued to its Lower High trend line though and if it doesn't make a new Lower Low below the 8,890 4H Support, it will most likely approach 9,480 again in an attempt to break even higher (9,960). For that to happen a MACD Golden Cross needs to take place so we will be keeping an eye on that.

On a different scenario, if the 4H MA50 breaks it will most likely lead to a 4H Support break out and the immediate target will be the MA200 at 8,400. So our suggestion to short term traders is to trade the break outs.






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Nice TA :)
+1 Reply
@L49Trading, Thank you.
Reply
Interesting idea
+2 Reply
@VincePrince, Is this invalidated already? The bull trap broke.
Reply
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