BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is showing signs of strength.

  • RSI is showing divergence. Also it has jumped above 30.
  • MACD is showing tripple divergence which is from technical analysis point a very strong bullish signal.
  • ADL line is increasing and reaching new peaks despite falling price indicating the bottom or short term reversal could be near.
  • $5800 is a very strong support and should not be easily broken,as shown previously and formation of pinbar .
Keeping in mind all above mentioned points, we could see that there is upside potential for Bitcoin should move upward.
Entry point: current market price
Stop loss: 5700
TP 1: 10000
TP 2: 18000


Disclaimer:

All ideas, opinions, and/or forecasts, expressed or implied herein, information, charts or examples contained, are for informational and educational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
Comment: market is showing bearish momentum it is advised to close the trade with 275$ per bitcoin profit.

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