SelaNefa

Bitcoin about to break out?

Long
BITFINEX:BTCUSD   Bitcoin
As mentioned in my previous post, we found support in confluence zone of the two support lines shown here in green. The massive pump last week pushed us above the down trend line on the linear scale. However, when you draw a line in log scale, we haven't crossed it yet. This line is shown in red here (a line in log scale becomes a curve in linear scale, in case you wonder). It can be broken tomorrow at 8635$. At the same time we can also get above the 200 EMA that has recently death crossed us. As of now it looks like today's candle is going to finish around the 8100-8200$ level. From there it will only be a small push to bring us into the land of moon again.

Related Ideas

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.