WHERE I CAN TAKE A SAFE LONG POSITION!
Greetings all,
As you can see on our chart we mentioned the following :
MOVING AVERAGES
MA 30
MA 50
MA 100
MA 200
PATTERNS
FALLING WEDGE PATTERN
RISING CHANNEL
2 MAJOR RESISTANCES (SKY BLUE BOXES)
To be sure that we can reach at least the firs sky blue resistance at 40k plus,
we need to see bitcoin to break above 36k where and it sits the 30MA.
As you can see we break out from the big falling wedge , we retested it
successfully and we turn upside. This means that the break out was real.
Also bitcoin is moving inside a rising channel at the moment with potential
to go straight up to our first major resistance at 40k plus.
The two patterns are reacting positively for bulls and the probability to reach
40k area is big.
We open long position once we break above 30MA (Orange line) and of course to
have support from this 30MA.
Target at least 40k.
This for a long position....
Now if somebody wants to trade, short term,
a break above 35100 and confirmation, is a good buy area for a small trade,
with target 36k . (This is something we mentioned and in our channel today).
GL
As you can see on our chart we mentioned the following :
MOVING AVERAGES
MA 30
MA 50
MA 100
MA 200
PATTERNS
FALLING WEDGE PATTERN
RISING CHANNEL
2 MAJOR RESISTANCES (SKY BLUE BOXES)
To be sure that we can reach at least the firs sky blue resistance at 40k plus,
we need to see bitcoin to break above 36k where and it sits the 30MA.
As you can see we break out from the big falling wedge , we retested it
successfully and we turn upside. This means that the break out was real.
Also bitcoin is moving inside a rising channel at the moment with potential
to go straight up to our first major resistance at 40k plus.
The two patterns are reacting positively for bulls and the probability to reach
40k area is big.
We open long position once we break above 30MA (Orange line) and of course to
have support from this 30MA.
Target at least 40k.
This for a long position....
Now if somebody wants to trade, short term,
a break above 35100 and confirmation, is a good buy area for a small trade,
with target 36k . (This is something we mentioned and in our channel today).
GL