BTCUSDT, Daily Technical Analysis (Friday, 7 Feb 2020)
BTCUSDT, Daily Technical Analysis (Friday, 7 Feb 2020)
Bitcoin BTCUSDT yesterday hit a new high, reaching nearly 9900.
The highest price BTCUSDT has reached since the end of October 2019.
TRENDS
The uptrend of BTCUSDT continued when BTCUSDT broke 9700.
BTCUSDT is now touching the upper edge of the bullish channel
Now BTCUSDT may face resistance 9900 – 10.000
PIN BAR
One pin bar down, has a very large volume but the body is small.
This could be a sign of selling pressure above 9900
Some early buy 9000 – 9100 start to take profit
RESISTANCE
The current price range is also quite close to the strong round number - round number - 10,000
10.000 may act as psychological resistance
Some may close orders or stop profit-taking.
CONSIDER:
In general, the up-trend is still there
The closer the price zone to 10,000 should not buy close to 9.900 - 10.000
It is best to wait for a return down and then let's buy from 9.500 – 9.100 up
If you bought before, 9100 – 9400, can buy more
Stuff buy order with BTC with the latest pin bar setup around 9.700
Must move all the stops of the previous orders to the stop position of the latest order 9.600
In case the price reverses, all your positions must be exited.
Bitcoin BTCUSDT yesterday hit a new high, reaching nearly 9900.
The highest price BTCUSDT has reached since the end of October 2019.
TRENDS
The uptrend of BTCUSDT continued when BTCUSDT broke 9700.
BTCUSDT is now touching the upper edge of the bullish channel
Now BTCUSDT may face resistance 9900 – 10.000
PIN BAR
One pin bar down, has a very large volume but the body is small.
This could be a sign of selling pressure above 9900
Some early buy 9000 – 9100 start to take profit
RESISTANCE
The current price range is also quite close to the strong round number - round number - 10,000
10.000 may act as psychological resistance
Some may close orders or stop profit-taking.
CONSIDER:
In general, the up-trend is still there
The closer the price zone to 10,000 should not buy close to 9.900 - 10.000
It is best to wait for a return down and then let's buy from 9.500 – 9.100 up
If you bought before, 9100 – 9400, can buy more
Stuff buy order with BTC with the latest pin bar setup around 9.700
Must move all the stops of the previous orders to the stop position of the latest order 9.600
In case the price reverses, all your positions must be exited.