BitcoinLong
Bitcoin Long
Bitcoin has seen price move up nearly threefold from March low around 3900 to the present value 11,200.
A significant downtrend from 2018 has been broken and awaiting price to be tested at previous peaks of 12000 and 14000.
A long bias is taken ( as all 4 short term daily MAV are aligned to the upside) . Momentum is to the high side, but has not entered OS territory.
Enter - 10,500 ( retest of the broken horizontal resistance)
Target - 15000 ( the equal extension to the .886 retracement )
Stop - 9400 ( 3 atr)
RR = 4
A significant downtrend from 2018 has been broken and awaiting price to be tested at previous peaks of 12000 and 14000.
A long bias is taken ( as all 4 short term daily MAV are aligned to the upside) . Momentum is to the high side, but has not entered OS territory.
Enter - 10,500 ( retest of the broken horizontal resistance)
Target - 15000 ( the equal extension to the .886 retracement )
Stop - 9400 ( 3 atr)
RR = 4
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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.