Bitcoin is starting this week by showing strength as it's trying to reach towards the previous swing high level ($7.795) that it needs to take down before able to move further upwards. The price is already above of MA100 level and the downtrend line which both used to act as resistance during the downtrend. It needs to hold both of these levels to be able to continue it's prevailing movement.
As the price is still inside of the resistance zone it adds more risks into your trades that are taken there. Resistance zones tends to be areas where it has higher probability to retrace. There are two strategies that can be used here once it starts breaking out from the previous swing high level ($7.795). You can either buy the breakout itself or retest of the breakout. In the end patience pays off.
When the price breaks through of the $7795 level and hold it we are likely to see $8.000 level.
In my previous report I wrote about the bullish flag pattern which has the measured price target at $8.800 which is good to keep in mind as well.
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you! Feel free to DM me in here or in my Twitter!
Things to Remember:
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.
Yarr
As the price is still inside of the resistance zone it adds more risks into your trades that are taken there. Resistance zones tends to be areas where it has higher probability to retrace. There are two strategies that can be used here once it starts breaking out from the previous swing high level ($7.795). You can either buy the breakout itself or retest of the breakout. In the end patience pays off.
When the price breaks through of the $7795 level and hold it we are likely to see $8.000 level.
In my previous report I wrote about the bullish flag pattern which has the measured price target at $8.800 which is good to keep in mind as well.
Please, if any question comes to your mind don’t hesitate to ask! I try my best to respond ASAP!
If you need help with trading, finding information or courses let me know and I’d be more than happy to help you! Feel free to DM me in here or in my Twitter!
Things to Remember:
- Stop-loss orders are strongly recommended.
- Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
- Do your homework before investing.
DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.
Yarr
