pjims
Long

BTC/USD - Reversal on the Cards (but Confirmation Required)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello! I hope you're all fine.

Looking at the daily chart of BTCUSD             , the market is currently still very bearish but I can make a case for a potential long entry in the region of 7700-7000 if we get a confirmation in the form of a pin bar or a double bottom in the coming days.

Why? 1. There are some old tops on the left that can provide support. 2. We have the 200 moving average here as well (and it would be extremely negative if we broke below it). 3. For the first time since 3000, the 14-period RSI has gone oversold. It marked a reversal the last time around.

So, like I said, we need a confirmation first, but this is a potentially attractive area to watch. Thanks!
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out