growthisfreedom

Bitcoin analysis, focus on the short term

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
After 2 months the trend seems to have stopped in a support zone and I have decided to close the short position conservatively. This may be the inversion, but before entering long I need further confirmation.

Pushed up to 5700 he returned strongly to the dynamic resistance, going beyond it.
The bullish signal could be given:
-from the breaking of the new trendline traced on the new relative maximums (thick yellow line)
- concomitantly the breaking of the rectangle (last pivot maxima and minima)
-The crossing between closing and averages can confirm the validity of the signal.
I usually take a position following the price movement, but the risk is that this just started could be 4 di 5 wave.
I will carefully consider whether to enter short ahead of time.

To keep an eye on the zone 9500 because, if the 0.00% price surpasses the maximums of that area could mean that this is not a 12345 but a bearish abc . Moving from the first to the second case, this movement would be b, which could bring the price back to 12.000usd.
the chances that the bearish medium-term trend has ended are few, but this could still be the beginning of an important upward movement.

To recap:
- First targets in the 8000usd zone if the long position is opened;
- I wait for the conclusion of the uptrend (in all cases, therefore), bearish targets below

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