ForecastCity
Long

Don't miss the great buy opportunity in BTCUSD

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Trading suggestion:
. There is a possibility of temporary retracement to suggested support lines. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 50.

Take Profits:
TP1= @ 9285.00
TP2= @ 9384.00
TP3= @ 9475.00
TP4= @ 9712.00
TP5= @ 9900.00
TP6= @ 10240.0

SL= Break below S2

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Comments

Nice analysis, a lot are calling for a large drop on BTC. Seems to me like we'll have a bit more sideways action for a while
+6 Reply
ForecastCity PCHamamas
@PCHamamas, Thank you for sharing your feedback.
+2 Reply
@PCHamamas, I agree we'll likely be range bound for a while. For the breakout direction, I'm still on the bearish side though.
The daily RSI is rising to both MA resistance and the key resistance since May. This will be hard to break. 2D RSI still trending bearish.
Reply
ForecastCity Phi-Deltalytics
@Phi-Deltalytics, Thanks for sharing your point of view with us. 👍
Reply
Great analysis!
+2 Reply
@Kamryn, Thanks. 💎🙏💎
+2 Reply
Thanks a lot
+2 Reply
ForecastCity Josef_anderson
@Josef_anderson, Please don't mention it. 💎🙏💎
+2 Reply
perfect analysis!!
+2 Reply
ForecastCity Forecast_Crypto
@Forecast_Crypto, We're glad you liked it. 💎🙏💎
+2 Reply
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