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Bitcoin has seen price move up nearly threefold from March low around 3900 to the present value 11,200.
A significant downtrend from 2018 has been broken and awaiting price to be tested at previous peaks of 12000 and 14000.
A long bias is taken ( as all 4 short term daily MAV are aligned to the upside) . Momentum is to the high side, but has not entered OS territory.
Enter - 10,500 ( retest of the broken horizontal resistance)
Target - 15000 ( the equal extension to the . 886 retracement )
Stop - 9400 ( 3 atr)
RR = 4
A significant downtrend from 2018 has been broken and awaiting price to be tested at previous peaks of 12000 and 14000.
A long bias is taken ( as all 4 short term daily MAV are aligned to the upside) . Momentum is to the high side, but has not entered OS territory.
Enter - 10,500 ( retest of the broken horizontal resistance)
Target - 15000 ( the equal extension to the . 886 retracement )
Stop - 9400 ( 3 atr)
RR = 4
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