After the correction we had in BTC the last days its normal to have neutral short term trend until investors and traders get back into the game strong.
As we see on the chart we have a rectangle shape which is a consolidation pattern. From my point of view this consolidation its absolutely healthy for bitcoin.
The price will fluctuate from 10,500 to 11,900.My recommendation would be to wait till price breaks the resistance level which is formed at 12,100 and then take position for profits up to 13,200 and later 14,300.The MACD and RSI indicators show us that indeed we are facing a consolidation period .
As we see on the chart we have a rectangle shape which is a consolidation pattern. From my point of view this consolidation its absolutely healthy for bitcoin.
The price will fluctuate from 10,500 to 11,900.My recommendation would be to wait till price breaks the resistance level which is formed at 12,100 and then take position for profits up to 13,200 and later 14,300.The MACD and RSI indicators show us that indeed we are facing a consolidation period .
Comment:
The consolidation period is not over yet. Its crucial time for traders , be sharp and fast.
Trade closed: target reached:
This short term trade is no longer valid because our target was reached(13,200).
Enjoy your profits till our next trade :)
Enjoy your profits till our next trade :)