Everyone notice the big move of Bitcoin today nearly up 15% from the previous levels.
The questions is this move is a trend-reversal or not?Is it a news-driven move?Or it is a buying exhaustion move?
Looking this move from a fundamental point of view we had a rumor that George Soros and some other power billionaires started buying cryptos and especially the king of cryptos, Bitcoin .So if we can relate this move to this rumor we must be careful beacause we know that the news-driven moves are easily reversing the next days.
1.We can see the that it is still NOT has broken!
2. is at critical 50 level which implies that momentum is currently neutral and NOT reversed!
3. are above price levels showing that ternd reversal is still NOT established!
Dear traders as you understood so far i have to emphasize that a long trade is NOT yet something that you can look for,as fundamentals and technicals observations are still incomplete!
ENTRY AFTER TRENDLINE IS BROKEN AND RETEST NEAR AT 7.990$
STOP LOSS AT 7000$
TARGET 1 AT 9.800$
ENTRY AT 6.950$
BUY STOP AT 7.900$
TARGET 1 AT 5.200$
THANK YOU ALL FOR SUPPORT!
KEEP FOLLOWING FOR MORE PROFITS!
DON'T HESITATE TO LEAVE A COMMENT OR A QUESTION!