alireza_Msh

BTC current movement analysis

Short
alireza_Msh Updated   
BITSTAMP:BTCUSD   Bitcoin
Seems that we broke the very strong support right now and it looks valid, If it stays bellow that for few hours without touching that then we might have pull back to that valued area and go down to the next support line which you can see on the chart
Trade active:
Looks that we are going on, The target would be around 29180 and a possible buy stop for short term upto the level that had been broken, still there is possibility of going down to 24K if the market get panic , but in my opinion reverse would be around 27K-29K and going upside to reach the ATH.
Trade closed: target reached:
The first target at 29180 had been reached and you can take a long trade based on 1 hour candle stick formations upward ... probably would be a aggressive high risk trade but might be a good chance to buy bitcoin in this area
Trade active:
Still waiting for Bitcoin to close above 32K daily for the next leg up. otherwise we could see lower levels
Trade closed: target reached

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.