BitcoinLong
BTCUSD POtential LOng SEtup formed
We have to confluence playing out
1. Head and shoulder pattern in daily timeframe and currently the price is forming the right shoulder and we are clearing seeing rejection in $7500 region. also price has moved to our extension fib level of 1.32 % and 1.618% which gives a clear signal that we might have a clear change of trend.
2. The golden cross over of 50 sma and 200 sma
in the daily timeframe we have 50 and 200 crossing to the upside and =BTC has a tendency of dipping 20-38% before rallying. so still go oppunity to capitalized
in the H4 timeframe we see a lot of rejection and price is respecting the lower band channel price is now above the 9 and 50 sma which is a bullish signal.
my first target in 9200. mostly i am a holder and i buy dips when the market is low
if you liked my analysis feel free to comment and lets exchange ideas !!!
1. Head and shoulder pattern in daily timeframe and currently the price is forming the right shoulder and we are clearing seeing rejection in $7500 region. also price has moved to our extension fib level of 1.32 % and 1.618% which gives a clear signal that we might have a clear change of trend.
2. The golden cross over of 50 sma and 200 sma
in the daily timeframe we have 50 and 200 crossing to the upside and =BTC has a tendency of dipping 20-38% before rallying. so still go oppunity to capitalized
in the H4 timeframe we see a lot of rejection and price is respecting the lower band channel price is now above the 9 and 50 sma which is a bullish signal.
my first target in 9200. mostly i am a holder and i buy dips when the market is low
if you liked my analysis feel free to comment and lets exchange ideas !!!
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Related publications
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.