Savvythe1

BTC Falling wedge retest trading signal UPDATED

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Stop loss: $34000
Entry: $34925
Take profit: $38870

RSI has bullish divergence on multiple time frames. The daily MACD is crossing up on the daily showing a buy signal. The falling wedge pattern had broke above resistance and came back to retest the resistance trend line turning it into support.

Only enter this trade if the entry point is met. Be sure to apply your stop loss and watch price action around $38177 as there is strong resistance. A smart move would be to take initial investment out of the trade as profit in that area.

Be safe trading this weekend as we have low volume and the whales are swimming!!

Stay green and be blessed!

Comments

good analysis 👍👍👍
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Savvythe1 hablad19
@hablad19, thanks!
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