Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
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Hi Guys,
As I can see Bitcoin, in more perspective. All informations are mentioned in TA.
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BTC will go above $3740 before any significant pullback happend.
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BTC had another breaking up green candle and was stopped by the top line of the Triangle. If BTC manage successfully triangle breakout, then next target will be $4250. On the other hand dropdown to $3500-$3400 will happen.
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The most of lower TFs look pretty good - bullish. So, that is the main reason why I want to take a look at higher TF, at 1W: a) Volume profile has been decreasing for last weeks. But the price is increasing. Usually it is bearish sign. b) RSI-Stoch is heading to "30 level". So, currently it is neutral signal. c) Just MACD indicates potential upward trend continuation.
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The Triangle pattern breakout is expected in next week.
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Long term resistance broken. Profit target at around $5800.
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I doubt the Bitcoin manage $6300 during this upward trend. $5800-$6000 seems to be more reliable.