BK_Trader4Ever

BTC 1D. BULL FLAG

Long
BITSTAMP:BTCUSD   Bitcoin

Bit Coin in BULL Flag. GOOD
BTC needs to break out BULL Flags Resistance at $5485 with good volume to pass true next Fibonacci level at $5594.
If we will break out from bull flag $5485 level we can potentially fly up to next strong resistance at Fibonacci level $5800 and meet some resistance on the way at $5594.
If BULL flag resistance will hold and support will be broken than we are falling down to previous resistance that now became a support $4300
INDICATORS:
1. 50 MA Crossed UP 150 MA. Last Time That Happen was when BTC went up to $19000 back in 2017 We are officially in UP Trend. - VERY GOOD
2. Stochastic still little Oversold but its going down - BAD/NEUTRAL
3. RSI Oversold - BAD
4.Volume going down not UP - BAD
5. Bolinger Bands in the middle - NEUTRAL
6. 20 EMA above 40 EMA that means we are in up trend for next couple days/weeks. - GOOD
I think to enter LONG Position at $5490 with good volume.
My potential target @ $5800.

Related Ideas

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.