graham.edwards84

BTCUSD 45 min chart gained the support of the 200 MA

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Yes, BTCUSD has now conquered the 200 MA on this 45 min chart however, as you can see... the wave undulation of the 50 MA here is indicating a potential downward movement which will likely draw the price action lower in the short term. I have adjusted a projected pathway but I would really like to see BTCUSD take support on the one hour chart to be more convinced of a long call but I am still leaning to bullish and a move back to the 20 K range.
Comment: Hitting an upper trend line here. Very bullish move but I would suggest caution here and perhaps you will get a better entry point so if you are thinking of entering here then perhaps a half position or one third to start.

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