fabriciotrades

BTCUSD Looking Like It's Ready To Break Trendlines

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITSTAMP:BTCUSD

Bitcoin is about to make a HUGE push within the next few days. Right now it's sitting in a pretty quite neutral area where it has to test the respected support line where it formed a double bottom at. If BTCUSD breaks the resistence line here it would go up and make new highs thus pushing the price upwards and build momentum for the upcoming week. By getting in at the BUY STOP level where I mentioned you would be in a near perfect entry and won't have to worry about your trade unless it fakesouts and heads downwards towards the support line.

In case Bitcoin isn't ready to head upwards then we have to be aware of when it would be a good place to enter in a short sell and ride the wave down. By knowing the rules of Price Action then we know if the low or support line is broken and closes below the previous low then that's a indaction that the market is weaking and we might be heading downwards. Now we would have to see more confirmations for us to enter on the SELL STOP entry like it breaking the low and when the upwards push happens and it doesn't reach the previous high.

Like I said I'm neutral right now but will keep you guys posted!

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