As we had assumed in the previous review, the point of $ 10’000 became a local peak.
Bitcoin fell to $ 7’000 not reaching the previous bottom of $ 6’500.
Yesterday growth and bulls’ takeover on the daily chart let us suggest the stop of decline and the rise to at least $ 8’000. Within medium-term consolidation the rise to $ 9’000 is likely too. At the same time, while the rate is below decreasing low-moving average of weekly chart (today it is a bit higher than $ 9’000), the further decline is more likely. That is why we advise to take advantage of the rate growth to the zone of $ 8’000 - $ 9’000 to open short positions. Stop above $ 10’000. The first target is $ 6’000.
Wish you profitable deals!
Follow our reviews!
Bitcoin fell to $ 7’000 not reaching the previous bottom of $ 6’500.
Yesterday growth and bulls’ takeover on the daily chart let us suggest the stop of decline and the rise to at least $ 8’000. Within medium-term consolidation the rise to $ 9’000 is likely too. At the same time, while the rate is below decreasing low-moving average of weekly chart (today it is a bit higher than $ 9’000), the further decline is more likely. That is why we advise to take advantage of the rate growth to the zone of $ 8’000 - $ 9’000 to open short positions. Stop above $ 10’000. The first target is $ 6’000.
Wish you profitable deals!
Follow our reviews!
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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.
Related publications
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.