BTCUSD Getting Ready to hit 12k?? Buyer support and bullish TA.
In this trade analysis we can see the immediate retest of the lower levels at 11.7k. This was immediately met by bullish buying power pushing it right back to the higher levels to retest again.
The more times it keeps tapping the same resistance the more likely it is to break. This is why it was such a strong signal here just showing what bullish momentum it has.
In the market many people want it to return to the previous highs and currently the market sentiment is extreme greed. We may see lots of buy orders but also may see some fakouts due to lots of sell offs so grab your take profits and move on ; D
For the time being I would say that bitcoin should hit 12k pretty soon unless we see another retracement (around 11.7k) with an unsuccessful aftermarket, but btc has exited the kumo cloud which means the trend is most likely not a fakout.
CHOP is on the mid-lower levels where I would say normally to be careful if it is not under 50 or 40 but this is around the start of the trend so it is expected. The powerful demonstration that btc formed is very strong so it will most likely come out on top.
Personally I held LTC after its bullish accumilation recently and made a good profit. What I would say to those that want to enter on this trade I would say to enter below 11.9k, SL below 11.8k slightly and place a stoploss at 12k so if it keeps going higher and loses momentum you can take profit higher than 12k.
Remember:
Losing and winning are both part of trading and are both inevitable. Do not be sad or exited over any.
Always let a candle finish forming to act apon it (unless it is hitting a stoploss)
Always enter a trade with a planned take profit and stoploss ideally with a 1.5/1 ratio or higher
The more times it keeps tapping the same resistance the more likely it is to break. This is why it was such a strong signal here just showing what bullish momentum it has.
In the market many people want it to return to the previous highs and currently the market sentiment is extreme greed. We may see lots of buy orders but also may see some fakouts due to lots of sell offs so grab your take profits and move on ; D
For the time being I would say that bitcoin should hit 12k pretty soon unless we see another retracement (around 11.7k) with an unsuccessful aftermarket, but btc has exited the kumo cloud which means the trend is most likely not a fakout.
CHOP is on the mid-lower levels where I would say normally to be careful if it is not under 50 or 40 but this is around the start of the trend so it is expected. The powerful demonstration that btc formed is very strong so it will most likely come out on top.
Personally I held LTC after its bullish accumilation recently and made a good profit. What I would say to those that want to enter on this trade I would say to enter below 11.9k, SL below 11.8k slightly and place a stoploss at 12k so if it keeps going higher and loses momentum you can take profit higher than 12k.
Remember:
Losing and winning are both part of trading and are both inevitable. Do not be sad or exited over any.
Always let a candle finish forming to act apon it (unless it is hitting a stoploss)
Always enter a trade with a planned take profit and stoploss ideally with a 1.5/1 ratio or higher
Comment:
If we see a small retrace that may be expected
Comment:
Do not trade inside of a kumo cloud.
Comment:
I would appreciate a follow <3
Comment:
Incredibly bullish candle possibility of breaking way past 12k
Trade closed: target reached
Trade closed: target reached
Comment:
Big Win. Follow for more signals : D
Comment:
TP Hit but analysis not correct.