Huge R:R on this pre-halving retrace and .5 Fibonacci daily test
The bitcoin's halving has historically been a key event for bull markets (as happen with LTC the past year)
During years all the halving have a pre-halving retrace, and should be this one. (If not, we will try again around the $8200)
Bitcoin is showing weakness during the past few days, but for us, this is near to go hard up!
The RSI and stochastic are in huge levels to buy, also, the market sentiment is becoming to much bearish, for sure a good chance to counter trade over the 8200 targets.
On the daily chart we already test the 200MA, and for me this is part of the wick into this level, taking as ground the 0.5 Fibonacci level, based on the last low of 2018 around 3000's and the higher of the past year near to the $14.000
This is a really simple setup with a high R:R ratio
Targets
8650 - Breakeven stop
8800 *Stop TP1
9200 * *
9500 * *
10500 * *
12000 * *
Moving our stop loss every target to avoid big losses
During years all the halving have a pre-halving retrace, and should be this one. (If not, we will try again around the $8200)
Bitcoin is showing weakness during the past few days, but for us, this is near to go hard up!
The RSI and stochastic are in huge levels to buy, also, the market sentiment is becoming to much bearish, for sure a good chance to counter trade over the 8200 targets.
On the daily chart we already test the 200MA, and for me this is part of the wick into this level, taking as ground the 0.5 Fibonacci level, based on the last low of 2018 around 3000's and the higher of the past year near to the $14.000
This is a really simple setup with a high R:R ratio
Targets
8650 - Breakeven stop
8800 *Stop TP1
9200 * *
9500 * *
10500 * *
12000 * *
Moving our stop loss every target to avoid big losses