Bitcoin - Price range to buy as we head to 6900 or even more?!
Bitcoin has finally recovered a little bit after that dump from 7400.
We quickly pumped past the 21 day MA in just 1 day with good volume leaving little opportunity for an ideal buy area for most traders.
RSI and stoch are overbought in the 4hr, We could be expecting a possible retrace to 6580-6630 ranges soon! That would be a decent area to open a long position as they will serve as strong support region.
A daily close below 6550 would invalidate our trade idea - and would be signal to sell.
If market goes below 6500, It would mean the bears are back in business.
If we close above 6800 on the daily - BUY ASAP. You wont get any more opportunities!!
We quickly pumped past the 21 day MA in just 1 day with good volume leaving little opportunity for an ideal buy area for most traders.
RSI and stoch are overbought in the 4hr, We could be expecting a possible retrace to 6580-6630 ranges soon! That would be a decent area to open a long position as they will serve as strong support region.
A daily close below 6550 would invalidate our trade idea - and would be signal to sell.
If market goes below 6500, It would mean the bears are back in business.
If we close above 6800 on the daily - BUY ASAP. You wont get any more opportunities!!
Trade active:
Moving market sell orders to less than 6400 for now to remove any nasty wicks! Ichimoku cloud supports at 6450ish range!
Trade active:
Well unfortunately only the bitfinex chart moved the price till our target regions. None of the other exchanges showed this price. Bitmex came till 6634 Which would have been a decent place to be long. We can only hope price will come down again to test the supports!
Comment:
We are at those levels. Can only buy and pray everything works out. But Keep a watch on the price - Very tight to call this one.
Comment:
Also if the daily closes below the 21 day MA - Sell.
Trade closed: stop reached:
Well guys, Sorry this one did not work out. Very tight to call. I hope you guys sold after the drop from 6500. Just a note of caution - If we close above 6550 on the daily today - Don't be afraid to buy back.