Lately most of the coins have been following the bearish sentiment of bitcoin as bitcoin continues to play a major role in the market. The bitcoin price showed impulse upwards after declining 4 days in row.
The price is starting to support bullish divergence pattern along with MACD and RSI. Upward movement is supported by a bullish candlestick which is seen on the chart as the bullish engulfing pattern. MACD indicator is highlighting that the sellers are losing strength and this is giving an opportunity to buyers to step up their game and prove their play. Break out above of the $6248 resistance level could be considered as upward movement confirmation.
It's good to be prepared and careful while trading at these levels. The market is not out of the woods yet but the signs such as increased buying power and strong impulse up are indicating that there's still demand for bitcoin.
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
The price is starting to support bullish divergence pattern along with MACD and RSI. Upward movement is supported by a bullish candlestick which is seen on the chart as the bullish engulfing pattern. MACD indicator is highlighting that the sellers are losing strength and this is giving an opportunity to buyers to step up their game and prove their play. Break out above of the $6248 resistance level could be considered as upward movement confirmation.
It's good to be prepared and careful while trading at these levels. The market is not out of the woods yet but the signs such as increased buying power and strong impulse up are indicating that there's still demand for bitcoin.
If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Yarr
