FXtrades-gp

BITCOIN: It's time to REACH the 50.000 level!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!

🟢Forex Pair:
BITCOIN /USD

Technical Analysis:
The 8th of February 2021, the price broke through an interesting weekly support zone , pushing up with a strong bullish candle, quickly reaching the level at about 44k.
Since that moment, the price started following a clear uptrend, moving the market inside a rising wedge pattern.

Its first bullish impulse, moved the price up until the level at about 48k , but a daily clear doji candle gave us a sign of market uncertainty, falling down during the next day.
Few days of consolidation, a quick re-test of the level at 44k and the price got a new strong bullish impulse that moved the price up breaking through the level 48k , starting a second consolidation.
It is currently moving around the S/R zone at about 47k, and in the h4 perspective it got a couple of rejections on its dynamic support trendline.

🔴Conclusion:
I think the bitcoin will give us an interesting long opportunity, the price is moving above its ema 200 in many time frames but still inside a consolidation phase.
I'm confident to see an upcoming increasing of volatility and I'll be waiting to see a breakout of the current S/R zone before planning my long position on this trade.

If you would like to have a quick look about my previous BITCOIN's analysis, feel free to click the link below:

Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!

⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

Comment: The price got an interesting bullish impulse, our target is almost reached!

Related Ideas

Comments

nice rising wedge i also have this ascending triagnle
+2 Reply
FXtrades-gp imanpajand
@imanpajand, oh, thanks so much! I'm gonna have a look on your chart right now :)
Reply
imanpajand FXtrades-gp
@FXtrades-gp, I hope it is useful for you 😄🙏🏻🙏🏻
+1 Reply
FXtrades-gp imanpajand
@imanpajand, absolutely! :)
+1 Reply
Totally agreed with this view, let’s get the bag
+1 Reply
FXtrades-gp Investroy
@Investroy, I'm glad to hear that!
Reply
Splendid chart! Thanks for sharing
+1 Reply
FXtrades-gp Mahtab_Tradia
@Mahtab_Tradia, thank u Mahtab!:)
Reply
Great, total agree, thanks! 🔥
+1 Reply
FXtrades-gp Henry_Ross
@Henry_Ross, Hi Henry! thanks so much! I really appreciate!
Reply