Looking IOC I noticed soo many Bullish signs to hold for the short-mid term! RSI convergence, strong upward momentum on the MACD, VERY HIGH buying volume, low selling volume, 10-77 crossover, cloud breakout, all on the daily chart. We are almost oversold on the RSI though, and we may try to revisit the 10ema at somepoint in the next few day. That would be a good time for an entry, as we are a little extended atm on the daily. However a entry at 55k with a Stop-loss around 50k maybe Ideal, because who knows how parabolic this could go. If we break and close above 60k we will MOON!!
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I actually already entered this trade at about 42k, just late to posting this chart =P
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Although we have see some selling, the uptrend is still intact for now. We are now testing the 10ema. I will be watching price action closely today as BTC is unstable.
Thanks for your contribution.
Why do you think the resistance of 602 is that relevant?
NathanielEverett
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@Omega77, Yes, because as you can see on the chart the 60k area proved to be strong resistance in Sept. And judging by the chart today, it's still strong resistance point.
So broke above 60k next resistance is 108474 then the moon you think!?
NathanielEverett
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@Tjhunt, We broke above, but did not close. Some healthy consolidation is needed anyway. hopefully we will retest resistance again in the near term once BTC settles down a bit.
Why do you think the resistance of 602 is that relevant?