Xzhi

Bitcoin is bullish. Possible areas of entry if you wish to long

Long
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is bullish on all major long term timeframes. I'm basically holding my long and I probably will keep on adding more. Areas of interest are marked on the chart.

Short term, there is lots of supply at this area so price should be delayed a bit. However, overall demand is high and will drive price up further. The shorters here will be fuel for the next rally.

I'm long.

Comment: Just a note, if price goes beyond both zones, I'll probably post a new idea.
Trade active
Comment:
For a very bullish scenario, price should stay far away from this area. The longer it consolidates above this area the better.

It's also very likely to be support. Bitmex data shows this.

Comments

Any idea when BTC will pump like it means it? :( .. Me watching major alts taking off while BTC grinding up like a grandma
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Xzhi deliciouspodo
@deliciouspodo,

No idea honestly.
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@Xzhi, Man, this market is brutal.
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Xzhi deliciouspodo
@deliciouspodo,

Yeah, it's pretty tough unless you trade longer timeframes where this stuff can mostly be sidestepped.
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👍🏻👍🏻👍🏻👍🏻
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