BTC - HS pattern on the daily is a clear sign for the bulls
Updated
Bullish case:
TA
1. HS forming on the daily. In the next few days, if we go and retest the 6200-6300 $ levels and find support (which we have a good chance to) BTC is going to form a HS pattern which if respected could get us to the next big level of resistance @ 7100$ ( 50 EMA ) and then to 7600$.
2. RSI needs to cool off for a few more days to have room for another leg up
3. RSI diverging on the daily
4. Support on the 21 EMA
FA
1. Coinbase Custody is a big deal
2. We are closer and closer to an approved ETF
3. Sentiment shifted a notch, if we have another big leg up, that will be confirmation for the more conservative.
Cheers!
TA
1. HS forming on the daily. In the next few days, if we go and retest the 6200-6300 $ levels and find support (which we have a good chance to) BTC is going to form a HS pattern which if respected could get us to the next big level of resistance @ 7100$ ( 50 EMA ) and then to 7600$.
2. RSI needs to cool off for a few more days to have room for another leg up
3. RSI diverging on the daily
4. Support on the 21 EMA
FA
1. Coinbase Custody is a big deal
2. We are closer and closer to an approved ETF
3. Sentiment shifted a notch, if we have another big leg up, that will be confirmation for the more conservative.
Cheers!
Note
My entries: Open at: 6770$
Target: 7600$
Stoploss: 6590$
risk 180 $ to make 1000$ per BTC, good RR
Note
HS in play, we should find support betweem 6000-6400 $Trade active
Position opened at 6480 USDTarget: 7600 USD
Stoploss: 6250 USD
Trade closed: target reached
Target reached at 7600 USD Profit: @ 15%
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