Hi Traders! I was really out of this manipulated market for a while.
But now back to analysis. As we can see on this 1 W chart, there could be a potential play out for the Cup & Handle formation. RSI shows some hidden signs already, I think.
As we are slowly, slowly recovering from these massive dumps last week, I see a good possibility to enter some long positions soon. If we manage to get back up to 7200 areas and find support there, that will be pretty convincing for me. But I am still aware of some near future massive manipulations which could come, especially that we are still in the ETFs dilemma times.
But maybe - surprise surprise! BTC often does what ever it wants...
Levels to watch 7200 areas and then 7500 areas for potential bullish break out.
Happy trading!
*This is not an financial advice, this is only an idea. Do your own research and act on your responsibility.
But now back to analysis. As we can see on this 1 W chart, there could be a potential play out for the Cup & Handle formation. RSI shows some hidden signs already, I think.
As we are slowly, slowly recovering from these massive dumps last week, I see a good possibility to enter some long positions soon. If we manage to get back up to 7200 areas and find support there, that will be pretty convincing for me. But I am still aware of some near future massive manipulations which could come, especially that we are still in the ETFs dilemma times.
But maybe - surprise surprise! BTC often does what ever it wants...
Levels to watch 7200 areas and then 7500 areas for potential bullish break out.
Happy trading!
*This is not an financial advice, this is only an idea. Do your own research and act on your responsibility.
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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.