BitcoinLong
Btc: Will the uptrend continue?
Are we really going too 9 420?
Here's a couple of good important points to look at:
1. Break of 8 900
* In the past the 8 900 level has been a really big Support/Resistance, that's why it was key to break it to see further upside;
* On the 4h chart we just closed over it and re-test is succesfull, this means that bulls are now in control and ready to go higher!
2. Indicators
- On the 4h, Rsi is showing a big Bearish Divergence. But you need to be careful if you trade theses because in the past Bitcoin broke alot of
bearish divergence in Bulls season;
- Macd is just about to switch bullish again on 4h, 1d and 3d are already going up and don't look ready to flip back bearish;
- Ichimoku got broken on 1W, rejected on 3d (9 035), and broke out on 1d, for me it's leaning bullish;
3. How to trade in this situation?
I would be careful going in any shorts, the only one i would maybe think of is at 9.4k. If you are in other leveraged trade i would also take profits around that level (Eth, Ltc, Bch, Xrp, Eos).
From here you are better longing than shorting, until 9,4k atleast. When we'll get there i will do a analysis to keep you updated on how much i think we need to retrace before further upside!
Feel free to click on the link below to get re-directed to my pages, my full trade idea is post there.
Cheers
Here's a couple of good important points to look at:
1. Break of 8 900
* In the past the 8 900 level has been a really big Support/Resistance, that's why it was key to break it to see further upside;
* On the 4h chart we just closed over it and re-test is succesfull, this means that bulls are now in control and ready to go higher!
2. Indicators
- On the 4h, Rsi is showing a big Bearish Divergence. But you need to be careful if you trade theses because in the past Bitcoin broke alot of
bearish divergence in Bulls season;
- Macd is just about to switch bullish again on 4h, 1d and 3d are already going up and don't look ready to flip back bearish;
- Ichimoku got broken on 1W, rejected on 3d (9 035), and broke out on 1d, for me it's leaning bullish;
3. How to trade in this situation?
I would be careful going in any shorts, the only one i would maybe think of is at 9.4k. If you are in other leveraged trade i would also take profits around that level (Eth, Ltc, Bch, Xrp, Eos).
From here you are better longing than shorting, until 9,4k atleast. When we'll get there i will do a analysis to keep you updated on how much i think we need to retrace before further upside!
Feel free to click on the link below to get re-directed to my pages, my full trade idea is post there.
Cheers
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