BTCUSD LONG - Time To Get Back In The Saddle

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has just completed it's historic bear trend repetition where it dumps back to the ATH prior to the previous bear trend (this one being ~7600 -> 5500). Turnaround was confirmed with the massive bullish 4h candle which has historically marked every single turnaround, complemented with huge buy volume , the likes of which have not been seen since the last turnaround.
Furthermore, there is a massive bullish divergence on the 4h RSI .
The time is now my friends. Scale back in and ride the wave.
Entry: 7600-9000
Targets: 11800, 16000, ATH
Stop Loss: Go down with the ship

P.S the two blue dashed vertical lines mark the next CBOE/CME futures contract closes, expect tops around there.
Comment: We weathered the dump, ensuing volatility was to be expected, this recent bounce further confirms upwards momentum.
Thanks for your analysis. So it will still go down to 7600 before going up ?
@AnaK, I addressed it as a possibility due to volatility and uncertainty, which apparently materialized.
+1 Reply
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