PrimedGroup

Bitcoin (BTCUSD) ready for another bull run!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The Primed Analysis process makes us focus on liquid assets. We already bank decent gains on Bitcoin over the last few trading sessions, even the New Years weekend, but there seems to be more fuel in this up-trend! (For now at least)

Price action is using the fibs support (done our way) and what we see, after drawing the trendline, is that we have a strong and solid indication of an uptrend continuation.

Our profit targets are:

- 123.6%
- 138.2%
- 161.8%

The strong rejection candle is the backbone of this bullish continuation with the fibbonacci retracement indicating that the move/breakout could come as early as the US session today.

RSI is low, and that further supports the idea of buying Bitcoin .

Check out of signature for more info on what we can do for your trading!

Happy New Year!
Comment: Breakout is now valid, not excited until a new high is made.
Comment: New continuation working out. awaiting solid push up, then taking profit and done with this one.
Comment: getting closer and closer now. Compounding the trade
Trade closed manually: We are taking profit. Done and dusted here.
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Comments

Great chart mate - looks promising
+1 Reply
@ich1baN, thanks! Best of luck!
Reply