TradingView
InvestingScope
Mar 27, 2019 8:34 AM

BTCUSD: Strong bullish channel on 1D. Key fractal. 

Bitcoin / DollarBitfinex

Description

Bitcoin keeps trading within its 1D Channel Up (RSI = 55.512, MACD = 39.400, Highs/Lows = 0.000) with every pull back presenting a buy opportunity. The price rebounded yesterday after a Higher Low inside the channel and since BTC doesn't trade for long on the lower tier (below the median), we expect it to rise above 4,100 and settle to a trading action above the middle line.

In fact it may repeat a similar Inverse Head and Shoulders fractal (presented in blue). The short term Target set is 4,146.50 and 4,260 in extension.



As we pointed out on the study below, this price action on 1D is the most sustainable bullish sequence since BTC's all time highs:









** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **

Comments and likes are greatly appreciated.
Comments
Pineapple1k
BillCharison
Why did you put your ideas in the comments instead of expressing your opinion in the message, is it such a self-PR?
UnknownUnicorn3511625
More