The security is the future contract of Bitcoin (JUL):
Why we think it goes up:
- Bitcoin Completed a Head and Shoulder in H4 with a clear break up of neckline.
- Also the upper side of a congestion triangles is broken
- The fibonacci retracement (from 7500 to highest top) is valid and the security is going to continue it's upward trend.
- MACD had a bullish cross above its zero line.
- Moving average (20) is broken by the price.
- There is also a 4 to 5 impulse forming in H4.
- The is also a long body bullish candle in H4
Buy at: 12085$
Stop: Under 38% level of fibonacci: 11400 (685$)
Profit: the first target of H&Sh pattern, which is almost the previous high of the price: 14400 (2315$)
Why we think it goes up:
- Bitcoin Completed a Head and Shoulder in H4 with a clear break up of neckline.
- Also the upper side of a congestion triangles is broken
- The fibonacci retracement (from 7500 to highest top) is valid and the security is going to continue it's upward trend.
- MACD had a bullish cross above its zero line.
- Moving average (20) is broken by the price.
- There is also a 4 to 5 impulse forming in H4.
- The is also a long body bullish candle in H4
Buy at: 12085$
Stop: Under 38% level of fibonacci: 11400 (685$)
Profit: the first target of H&Sh pattern, which is almost the previous high of the price: 14400 (2315$)
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.
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.