Strong Bullish Divergence on the daily chart for BTC . MACD and ROC indicators are both making higher lows indicating strong bullish momentum. BTC is highly reactive to the 50ma, as shown by the circled bounces and rejection points. 50ma trendline turned from support to resistance and is running concurrent with resistance of descending triangle formation formed after May's selloff. May need a big Bullish news event/report or other viral catalyst to break out of its current consolidation range and kickstart its reversal.
Trading Plan
Trade Length: Mid to long term
Trade Strategy: Buy and Hold
Trade Entry: When price breaks above 50ma trendline and/or descending triangle resistance with rising volume.
Trade Exit: tbd
Trading Plan
Trade Length: Mid to long term
Trade Strategy: Buy and Hold
Trade Entry: When price breaks above 50ma trendline and/or descending triangle resistance with rising volume.
Trade Exit: tbd
