ridethepig

A meaningful low in place for Bitcoin...

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Here we can see from a technical perspective that Bitcoin has tested and held the 200 MA. This recovery since has looked impulsive in nature and is adding confidence to the upside as we remain above 5115.

The break of the ABC sequence shows that we are in the middle of an impulse wave and indicates the next levels in play to the top side are 6213.

Any pullbacks should now be treated as counter trend and corrective, ideally we need to avoid a break back under 4,235 at all costs to continue momentum. Whilst to the topside targets come into play at 6213 and this would be a 3rd wave of 5 in the sequence since the December floor.

Thanks for all the likes, comment, follows and etc... best of luck all those in crypto and adding exposure to their portfolios.

Comments

@ridethepig Good job!
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ridethepig IgorPorokh
@IgorPorokh, Thanks for the kind words
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IgorPorokh ridethepig
@ridethepig, Look at my idea what do you think about it ?
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