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Fxprotrader
Jun 16, 2018 10:56 AM

Bitcoin to $7300 - Detailed Multi Timeframe Analysis Long

Bitcoin / United States DollarCoinbase

Description

Daily Chart

- Price seemed like it broke below the $6300 support level but it reversed, now trading above that level.
- The sliding parallel of the downsloping median line offers support at the same level as the horizontals.
- RSI is oversold

240min Chart



- A clearer view of support offered from the sliding parallel
- RSI bullish divergence

Hourly Chart - A buy setup



Price is developing a bullish flag. Buy the breakout placing your stop-loss below the correction of the flag and aiming for a least the $7300 level.

All the best,
John

Trade active

Comments
IaMHERE0K
Still valid?
Fxprotrader
@IaMHERE0K, It's now active :)
Like2Move
Interesting analysis, thanks.
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