XBTUSD.P
In H1 & H4 timeframes it is possible to see bullish divergences in the XBTUSD (RSI + MACD + OBV). These divergences have been in formation for about a month and I believe that in the coming days we will see a bullish move of at least $100-$130 in response to this demonstration of weakness in the short-term downtrend.
My expectation is to go long in the $3300- $3270 range if the price reaches that region in the next 48 hours, with target around $ 3400. A good stop-loss will be at $3225.
If the price does the above mentioned move, it will be necessary to re-evaluate the whole scenario, but we can be right now within a Falling Wedge and that breakout coming at $3400 with good volume may give us hope to see bitcoin hitching a new climb up to the $3700 range . As mentioned earlier, the whole scenario will need to be reevaluated if that happens, the market is feeling weak and with little confidence so it is difficult to bet on big moves up in this moment.
If you liked it, please follow me and stay within my analysis, let follow this idea together and see if it is reflected in a good trade with good gains.
Trade closed: target reached:
Trade closed, BTC made the expected move... But without reach our entry point. Anyway the trading idea reflected perfectly in the chart.