Long

Bitcoin - $8,370 Profit Target

Updated

Trade Pair: BTC.USD
Time Frame: Daily
Predicted Direction: Long

BTC.USD updates will be available in the comments section below.

The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.

Note

A quick update on this setup.

Currently price is floating sideways, given that we have technically closed above the descending trendline with no bullish impulse is a warning sign for any long opportunities.

Personally i am sitting back watching price day by day as there is no clear direction to trade as of right now.

Note

Price failed to impulse out of the daily descending trendline which for me invalidates a long opportunity short term.

The 4hr TF is now producing a short opportunity should price break $6,600.
I will await a break & retest prior to a short opportunity.

Note

Price breaking the 4hr TF structure, the Daily breakout is now confirmed.

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I have been asked how i executed this position, i would always prefer to be transparent, i didn't personally take this trade due to the quick impulse.

I hope others we able to take advantage.

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BTC.USD - $11,600 Breakout or $5,500 Reversal?

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Bitcoin Bull - It's Time To Take Advantage

UnknownUnicorn180388

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