Bitcoin has had a very steep decline recently. It sits well within oversold territory and the PSAR's of most Cryptocurrencies has already turned bullish on the 4-14hr time-stamps.
Support still sits around $5780 which is far below the current market price.
A continued sell off to the support level would signal extreme instability and worse circumstances would ensue.
If you are willing to bet that Bitcoin won't die in the next couple of weeks, a long position from ~$6250 with a target of $6500+ is a safe trade.
Support still sits around $5780 which is far below the current market price.
A continued sell off to the support level would signal extreme instability and worse circumstances would ensue.
If you are willing to bet that Bitcoin won't die in the next couple of weeks, a long position from ~$6250 with a target of $6500+ is a safe trade.
Note
We have reached the $6500 level and have profit under our belt. The momentum is strong so it is very much safe to let the profits run. Set stops flat to eliminate risk. Note
Happy days! Let the profit run.
Kenzing trading indicators for TradingView perform advanced real-time analysis of stock price trends and display alerts that are easy for the average Trader to interpret.
kenzing.com
kenzing.com
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.
Kenzing trading indicators for TradingView perform advanced real-time analysis of stock price trends and display alerts that are easy for the average Trader to interpret.
kenzing.com
kenzing.com
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.