Long entry for BTCUSD at 23792 USD.
Bitcoin has been in a massive downtrend since early April 2022, mostly below the 200 EMA.
In the past few weeks, however, the EMA's have been consolidating and Bitcoin is once again challenging to break this longer term downtrend.
Bitcoin is clearly breaking the 200 EMA level.
The shift in trend coincides with a break in the Monthly Pivot Point and cloud breakout.
On the daily timeframe however, the price is still in the cloud.
The first resistance is the top of the daily cloud at 25000 USD.
May better times be upon us soon.
Bitcoin has been in a massive downtrend since early April 2022, mostly below the 200 EMA.
In the past few weeks, however, the EMA's have been consolidating and Bitcoin is once again challenging to break this longer term downtrend.
Bitcoin is clearly breaking the 200 EMA level.
The shift in trend coincides with a break in the Monthly Pivot Point and cloud breakout.
On the daily timeframe however, the price is still in the cloud.
The first resistance is the top of the daily cloud at 25000 USD.
May better times be upon us soon.
Trade closed: stop reached:
Trade closed at 23228 USDT, we took our losses at -2.57%
Comment:
We will enter again on the next breakout. Potential downside risk avoided.
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