Hi, Traders !
Monfex is at your service !
Bitcoin has been under tough bearish pressure during the last few trading sessions, but the bulls are gradually taking the lead:
* Bears keep pushing on aiming to knock the bullish Support area around $7,500 - $8,000 to pieces.
* From the technical standpoint, the whole picture stays within a protracted correction structure. Meanwhile, it seems like the market has found a short-term equilibrium inside $7,800 - 8,200 area.
* The price bounced off the Landmark Support Area formed around $8,000 and headed to the North. From here, It is projected to test the Resistance at $9,100 - 9,400 level.
* We are starting to add up to our Long position anticipating, at least in the short run, a bearish rejection.
* Should we eventually see an impulse up to the Resistance area, we will be watching closely the price action at that level.
Short-term trading strategy ?
* We have been Buying incrementally within $7,900 - 8,400 range with the target zone of $9,100 - 9,400.
* We will watch the price action at the target zone to decide to either hold Longs ahead of the break-out or open Shorts on price spikes and in case of a further bullish rejection.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Monfex is at your service !
Bitcoin has been under tough bearish pressure during the last few trading sessions, but the bulls are gradually taking the lead:
* Bears keep pushing on aiming to knock the bullish Support area around $7,500 - $8,000 to pieces.
* From the technical standpoint, the whole picture stays within a protracted correction structure. Meanwhile, it seems like the market has found a short-term equilibrium inside $7,800 - 8,200 area.
* The price bounced off the Landmark Support Area formed around $8,000 and headed to the North. From here, It is projected to test the Resistance at $9,100 - 9,400 level.
* We are starting to add up to our Long position anticipating, at least in the short run, a bearish rejection.
* Should we eventually see an impulse up to the Resistance area, we will be watching closely the price action at that level.
Short-term trading strategy ?
* We have been Buying incrementally within $7,900 - 8,400 range with the target zone of $9,100 - 9,400.
* We will watch the price action at the target zone to decide to either hold Longs ahead of the break-out or open Shorts on price spikes and in case of a further bullish rejection.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
