electo
Long

Go Long and Strong - Bitcoin Trading Idea

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
My last chart is still a long call, just wanted to add another chart here.

Weekly RSI has bounced off lows and wants to start curling up. Stoch is painting a picture that shows this may be another week of sideways. Weekly levels looking very good.

We are due to a retest of the previous high shown in the chart. Yearly lows have held and there is no reason to think they will not hold. Longs are approaching all time lows on finnex because people dont want to long with the premiums.

As premiums drops, and market starts recovering from the recent FUD, we should start seeing a move upwards which will signify our test of strength.

On the flip side, there is a chance, we will break down much more. That scenario is ugly and quite bloody. I have some lines to show you where it may end up. However it will cause a market wide capitualtion.
Comment: Range lower boundry is ofcourse the SL here.
Comment: Still consolidating.
Trade closed: stop reached: Failed trade. Needs to close above the danger zone below to be bullish.

Comments

Regression to the mean.
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