Bitcoin is reaching one of the most important resistances that it has, this resistance has been maintained since the beginning of 2018.
Most plausible scenario:
Bitcoin bounces downward looking for levels of $ 3,500. This is the most probable scenario because overall Bitcoin is still bearish, and I will change my mind once I see signs of the opposite.
Alternative scenario:
Bitcoin breaks resistance with strength and continues to maintain an upward trend. But attentive to the weekly chart that shows a moving average (25) very close to the current price that will very likely be a strong resistance as well.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Slowly adding sell positions in the above blue zone is what I will be doing these upcoming days, if Bitcoin surpassed that resistance it would mean the start of a bullish momentum so we must look carefully what the market has prepared for Bitcoin.
I will be replying every comment, so feel free to publish here your own analysis or ask any questions.
Most plausible scenario:
Bitcoin bounces downward looking for levels of $ 3,500. This is the most probable scenario because overall Bitcoin is still bearish, and I will change my mind once I see signs of the opposite.
Alternative scenario:
Bitcoin breaks resistance with strength and continues to maintain an upward trend. But attentive to the weekly chart that shows a moving average (25) very close to the current price that will very likely be a strong resistance as well.
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Slowly adding sell positions in the above blue zone is what I will be doing these upcoming days, if Bitcoin surpassed that resistance it would mean the start of a bullish momentum so we must look carefully what the market has prepared for Bitcoin.
I will be replying every comment, so feel free to publish here your own analysis or ask any questions.
Trade active
Trade active
Comment:
As you can see Bitcoin corrected downwards and we are now below the resistance, we could see Bitcoin touching the line again before falling. Let's look closely, this looks interesting.
Trade active
Comment:
Already up 180% on BitMEX with 15% leverage. Time to set SL on entry, in case we see an upside rebound we are now covered. Let's watch closely the evolution of the trade.
Trade active
