Bitcoin bulls continue to remain in control over the past several weeks, after printing lows at 3850 handle. It is becoming exceedingly evident that Bitcoin larger degree wave structure remains bullish against 3100 lows since December 2018. If an impulse wave is underway since 3850 levels, we should witness another high towards 10500 handle, before Bitcoin corrects lower again. The recent structure could be a lower degree wave 4 expanded flat, which terminated around 8100 yesterday. If the above count is correct, bulls are preparing for another rally. Hold long positions until 10500 levels as immediate target. Ideally, Bitcoin should hold above the 6K handle.
Strategy:
Long against 3850, targeting 10500, 13800 and higher.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
Strategy:
Long against 3850, targeting 10500, 13800 and higher.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage.
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.