BTC and the bulls – Road to U$ 9.2k?
So BTC gave us an obvious trade recently, and now is doing what was expected to do, as I said in my last analysis. I warned about how strained the chart was in 60 minutes timeframe, and we should expect some correction. Now the price is “resting” a little, letting the 21 ema get closer and closer.
After the harami pattern (could be a harami-cross too, if you like), BTC triggered a nice long operation, with a very comfortable risk/gain relationship. I wouldn’t buy now, if I was out, but it’s not time to go short either. It’s a bullish trend, and BTC lacks any bearish pattern here. It’s time to manage your position, or even take your profit, if you like faster trades.
We have 3 supports here: The U$ 7306 (previous top, blue line); The 21 ema; and the upward trendline (purple).
Maybe the U$ 8426 could serve as a resistance (black line), because it did support the prices in the past (green rectangles), but I’m still not sure. The U$ 9.2k seems to be a more realistic target for BTC right now.
Hope it helps, thank you!
After the harami pattern (could be a harami-cross too, if you like), BTC triggered a nice long operation, with a very comfortable risk/gain relationship. I wouldn’t buy now, if I was out, but it’s not time to go short either. It’s a bullish trend, and BTC lacks any bearish pattern here. It’s time to manage your position, or even take your profit, if you like faster trades.
We have 3 supports here: The U$ 7306 (previous top, blue line); The 21 ema; and the upward trendline (purple).
Maybe the U$ 8426 could serve as a resistance (black line), because it did support the prices in the past (green rectangles), but I’m still not sure. The U$ 9.2k seems to be a more realistic target for BTC right now.
Hope it helps, thank you!
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