DLavrov
Long

Bitcoin: What's New?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
The price broke the resistance zone formed by SMA100, SMA200, and 8000.00USD resistance. If the close price of the daily candle is above 8000.00USD, the market will give us a bullish signal. The next target for buyers will be the main downtrend line at 9200.00USD where we will be able to see a reversal and a pullback ti 8000.00USD and the local uptrend line as well as to SMAs .

Of course, we should not be surprised if the market gives us a fake breakout. It will be a possible option with the downside movement to 7200.00USD.

MACD lines and histograms give bullish signals, and DMI tells us that buyers are strong.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Comment: Do you know what's this? It is a reversal candlestick pattern at the main downtrend line. What does it mean? The market tells us about a possible pullback from the downtrend line. The support zone at 8000USD looks good as a target.
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Comments

btc about to breakout.
Reply
Hello Dlavrov,

How is it the market is moving up right now?
With all the problems and uncertainty we are facing around the world, I would think people would liquidate in order to pay bills at the end of the month.
Reply
DLavrov rigosbox
@rigosbox, but at the same time halving is a good reason to move upward. Don't you think so?
Reply
rigosbox DLavrov
@DLavrov, I have been pay attention to the halving. In the month of July in 2016 there was a downtrend during the second Bitcoin Halving. So we should be moving into a downtrend, and even more so with all the craziness that is going on in the world. Can you please give it a look. You have been in this business longer than I have.
Thank you.

Reply
DLavrov seba26-77
@seba26-77, thanks for sharing your idea!
+1 Reply
@DLavrov :- Awesome work as always...!
Is there a good read about DMI , which you can share. Thanks
Reply
DLavrov stmstratum
@stmstratum, thanks for your comment! You can find tons of helpful information about DMI on the Investopedia, it is also about other indicators and other stuff about trading.
Reply
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