The 55 Day EMA has been a significant moving average in determining the position of the market.
The chart says it all.
The key is for Bitcoin to get above the 55 Day EMA and stay above it.
If Bitcoin manages to stay above the 55 D EMA, this will signal the start of the new Bull Market.
Price range to watch out for: $7.6K - $7.4K
Price dipping below $6.8K and a candle closing below it will confirm an extended Bear Market as this will create a lower low.
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Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
The chart says it all.
The key is for Bitcoin to get above the 55 Day EMA and stay above it.
If Bitcoin manages to stay above the 55 D EMA, this will signal the start of the new Bull Market.
Price range to watch out for: $7.6K - $7.4K
Price dipping below $6.8K and a candle closing below it will confirm an extended Bear Market as this will create a lower low.
===============================
Watch out for STOPS-HUNTING BOTS!!!!
*** Trades should not be placed based upon what you see here! Do your own research and manage your own risk.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Comment:
Strong Buying Pressure above the 55D EMA
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A Day Candle Closing Above $8171 Will Trigger More Upside Price Action In The Next Coming Days.
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Accumulation Phases
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Price Never Went Below $4110 Again When Bitcoin Passed That Level On April 1, 2019.
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Potential Cup And Handle & Ascending Triangle
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Probable Pump Incoming! Stop Loss In Place Now.
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Very tight stop loss at $8077
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Stop Loss $8075
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Stop Loss $8085
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Stop Loss $8090
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Stop Loss Cancelled. Re-adjusted to $8020
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SL $7980. Bitcoin continues to be in a consolidation phase, and has extended the ascending triangle.
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Weekly Chart:
