Price has been consolidating for the past few weeks, with 7.5K being the clearest level of resistance.
Market structure has been a very good, consolidating even though we didn't make perfect higher highs and higher lows, it's pretty clear the market is moving towards 7.5k and UP.
We also had a golden cross on the 7th of April a pretty good bullish signal.
The volatility is hitting a new low, which could mean a massive spike as low volatility markets are followed by high volatility markets, especially in crypto.
We have a very bullish sentiment as the halvening is approaching and the stimulus package in the US could mean a massive influx of new retail crypto hodlers, (as no-risk money, can very easily be invested in a high-risk high reward asset such as Bitcoin ).
Based on all this, I'm entering a Long position at 7103, as we seem to have bounced off support on the lower timeframes (15 min), this could be a great entry before a possible PUMP.
As usual, this is NOT financial advice and is NOT TRADING ADVICE, trade at your own risk, with capital you are willing to lose, and always do your own research before any trading and/or financial decisions.
Market structure has been a very good, consolidating even though we didn't make perfect higher highs and higher lows, it's pretty clear the market is moving towards 7.5k and UP.
We also had a golden cross on the 7th of April a pretty good bullish signal.
The volatility is hitting a new low, which could mean a massive spike as low volatility markets are followed by high volatility markets, especially in crypto.
We have a very bullish sentiment as the halvening is approaching and the stimulus package in the US could mean a massive influx of new retail crypto hodlers, (as no-risk money, can very easily be invested in a high-risk high reward asset such as Bitcoin ).
Based on all this, I'm entering a Long position at 7103, as we seem to have bounced off support on the lower timeframes (15 min), this could be a great entry before a possible PUMP.
As usual, this is NOT financial advice and is NOT TRADING ADVICE, trade at your own risk, with capital you are willing to lose, and always do your own research before any trading and/or financial decisions.
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.
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.