Ok guys, this it's a good question that many traders make it. So, first Bitcoin make a new higher today and Bitcoin break up with strong forece at favor of bulls trend. But wait a minute, if that will be caused any liquidation of longs posiiton.
Remember, the $19,900 USD was a higher level and psycological point to take our decison!!!
So, my other hand it's that Bitcoin could to formed a bearish rising wedge and it's more curious to discuss with us a next plan to take our best decision to long or short position and be prepared.
Now, before to continue to analyze the chart, I want to talk in this timeframe and that it's that Bitcoin it's over bought, but we would to be cautelous that we're are a new higher and then we can see a hide correction meanwhile a bull trap and right now the RSI it's overbought.
My other good plan it's this, in 3 Daily chart we are overbought and then, we would need to see any correction so possible in Bitcoin that we would need to be prepared!!!
But analyzing the Daily so enfocous in this timeframe, we see that Bitcoin was formed an ascendent triangle in this yellow lines and then, in the past days I mark a manipulation clear that we can see if Bitcoin break up or not the zone, but we would need to have any plan first before to entry in the market yes or yes. BUT the most important it's this draw that I created for you if you have any doubts to have any plan and this could to support you. But right now, the best it's still away of Bitcoin until we see that Bitcoin goes again the $19,900 USD again to see if Bitcoin continue up. In case that BItcoin make a confirmation in H4 timeframe. we bought or the another hand we could see a correction that we hope toward the $16,500 USD approximately.
But I'm still bullish and following the trend!!!
Remember, the $19,900 USD was a higher level and psycological point to take our decison!!!
So, my other hand it's that Bitcoin could to formed a bearish rising wedge and it's more curious to discuss with us a next plan to take our best decision to long or short position and be prepared.
Now, before to continue to analyze the chart, I want to talk in this timeframe and that it's that Bitcoin it's over bought, but we would to be cautelous that we're are a new higher and then we can see a hide correction meanwhile a bull trap and right now the RSI it's overbought.
My other good plan it's this, in 3 Daily chart we are overbought and then, we would need to see any correction so possible in Bitcoin that we would need to be prepared!!!
But analyzing the Daily so enfocous in this timeframe, we see that Bitcoin was formed an ascendent triangle in this yellow lines and then, in the past days I mark a manipulation clear that we can see if Bitcoin break up or not the zone, but we would need to have any plan first before to entry in the market yes or yes. BUT the most important it's this draw that I created for you if you have any doubts to have any plan and this could to support you. But right now, the best it's still away of Bitcoin until we see that Bitcoin goes again the $19,900 USD again to see if Bitcoin continue up. In case that BItcoin make a confirmation in H4 timeframe. we bought or the another hand we could see a correction that we hope toward the $16,500 USD approximately.
But I'm still bullish and following the trend!!!