phoenix-fund

phoenix-fund

BTC retraced December parabolic move and is now consolidating around 8k mark. There was historic buying volume when we hit 6k in February. In my opinion that was smart money taking advantage of market sentiment. There are two things that are worrisome on this chart. 1. We broke long term support dating back to March 2017 which has now temporarily turned into...

phoenix-fund Updated 

The trading idead is based on RSI divergence and pivot support levels. The same pattern played out in the last major leg up. The last rally ended just before the 1.6 fib extension at 5k USD. We are looking to repeat the same pattern here at this levels. First long entry is at confluence of 0.23 fib ad long term trendline ressistance wich broke a few days ago at ca...