BTC - And the trend continues.
Greetings traders! So, continuing from my last analysis, bitcoin did what was supposed to do. If you like faster trades, that harami just above the purple trendline already gave you a good profit today, that was an easy trade with a nice risk/gain relationship. Feel free to check my previous analysis, if you missed it.
A bullish harami is a bullish reversal signal, and works almost randomly in normal circumstances, 53% of the time, accordingly to Bulkowski studies. But if a harami appears just near the 21 ema, and near a trendline, the odds increase, and the reversal is more likely.
I still believe BTC can go up, but it would be nice if today’s candle close above U$ 7306. Although, it wouldn’t surprise me if we see a correction, because the hourly chart is too strained, and we are near the 21 ema in the weekly chart.
The optimal target here is U$ 9.2k (light blue line), but that’s going to take a while, and the swing trader should be patient.
If you are out, now it’s not time to buy, but it’s not time to go short either (after all it is a bullish trend). Just be patient and wait for some correction.
That’s my opinion, I hope it helped.
A bullish harami is a bullish reversal signal, and works almost randomly in normal circumstances, 53% of the time, accordingly to Bulkowski studies. But if a harami appears just near the 21 ema, and near a trendline, the odds increase, and the reversal is more likely.
I still believe BTC can go up, but it would be nice if today’s candle close above U$ 7306. Although, it wouldn’t surprise me if we see a correction, because the hourly chart is too strained, and we are near the 21 ema in the weekly chart.
The optimal target here is U$ 9.2k (light blue line), but that’s going to take a while, and the swing trader should be patient.
If you are out, now it’s not time to buy, but it’s not time to go short either (after all it is a bullish trend). Just be patient and wait for some correction.
That’s my opinion, I hope it helped.
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