Bitcoin near important price area - 9K or 14K !?
After a double bottom was formed at the beginning of the week the price is back in the uptrend within short term. I expect the end of the uptrend to be around $11850 because there will be a lot of sellers entering the market. For all those who already hold a long position I would take that as a part take profit target. For those who are waiting for a good short/long there are two scenarios
1: The price breaks the down trend line, confirmed by a support above the trend line and then starts with strong growth, here you have to wait for the confirmation after the breakout to get a good long entry
2: The price breaks the dotted line downwards, here I would go directly short as a fast price fall is to be expected.
-RSI and Stochastic RSI indicating smaller correction within short term - market price must stay above 10400 $ otherwise is this setup invalid
-MACD going to cross bearish which brings sellers into market within short term
-Volume getting slower constantly which indicates trend continuation in short term
Good luck and a nice weekend to all
1: The price breaks the down trend line, confirmed by a support above the trend line and then starts with strong growth, here you have to wait for the confirmation after the breakout to get a good long entry
2: The price breaks the dotted line downwards, here I would go directly short as a fast price fall is to be expected.
-RSI and Stochastic RSI indicating smaller correction within short term - market price must stay above 10400 $ otherwise is this setup invalid
-MACD going to cross bearish which brings sellers into market within short term
-Volume getting slower constantly which indicates trend continuation in short term
Good luck and a nice weekend to all
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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