Algo has reach the bottom of this correction
After the correction that we just saw, it is just a matter of time before we bounce right back up.
My entry point is right now $1.69 the RSI is very low the MACD is also very low indicating a promising bounce.
The next few hours are important, if BTC can hold the line at 60K then we will see a quick turn around.
If the support breaks, the next stop is
52K so it will take a bit longer to recover.
We have 2 supports, one at $1.49 and another at $1.19, but I really don't think we will make it to that and this is why I prefer to get in right now, even if it will drop a little further still.
TP1: 2.03, (50%)
TP2: 2.23, (50%)
My entry point is right now $1.69 the RSI is very low the MACD is also very low indicating a promising bounce.
The next few hours are important, if BTC can hold the line at 60K then we will see a quick turn around.
If the support breaks, the next stop is
52K so it will take a bit longer to recover.We have 2 supports, one at $1.49 and another at $1.19, but I really don't think we will make it to that and this is why I prefer to get in right now, even if it will drop a little further still.
TP1: 2.03, (50%)
TP2: 2.23, (50%)
Trade active
While there was a pump, (and now dump), I reached all my TPs in one single go.Sadly, this is not the 'real' recovery and I suspect the price will come back down to something more realistic for the day, (~$1.70 to $1.75 maybe), before continuing.
So, I will re-enter at around what I expect it to be today, maybe around $1.70
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.