BTC to at least 7400. Ingredients for potential massive run.

Hello and welcome to my chart. There are three major reasons why I believe it is time to long bitcoin. Full disclosure I bought at 6825 so it's possible I have some bias but I was calling for this reversal way before I bought which is why I bought at this level. Anyways, to start we have a nice V reversal this afternoon. Now my main two reasons, the huge gap on the daily chart of CME futures. Traders love filling these and it is there for the taking at 7400, this is a bullish gap. Then we take a look at the weekly chart and low and behold our friend stoch RSI is showing signs of crossing over bullish, now fair warning it could be another week or two before it actually does but my gut says it will be sooner rather than later and this is a very important sign of reversal, typically we get a reversal of at least 1000 if not 2000 points or more when this crosses over. So needless to say I am very bullish and like the direction of Crypto right now. Best of luck traders!

PS. I am not perfect but have been pretty dead on the last couple of weeks since I changed my trading style a little. Feel free to follow me on twitter. twitter.com/TheMattMan5

~Matt

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The last time the weekly stoch RSI crossed over the price went from 6510->9948. The previous time it went from 5920->11780. This was in a bear trend. Even if the price goes a little lower this will be worth investing now over the next 3 weeks or possibly more.

It was too close for my taste which is why I had a order in for 6825 this morning.

Comment:

5825. Oops. I swore I fixed that earlier.

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Wouldn't be surprised to see one last shake out here. It's pretty irrelevant though in the grand scheme of things. This trade is still very much on target.