BTCUSD bounce from weekly 200 MA?
Updated
On the weekly chart we can see that BTCUSD probably will bounce from the 200 MA. It can break the 3k support, of course! But then, I am looking for a bounce (or rapid recovery) that will close above the 200 MA. The last time we hit the 200 MA, was back in 2015. From that point, it has started a bullish rally.
Lets see, a little bit more time waiting will tell us, whether the 3k support will hold or not.
Good luck.
-- not an investment advice -- do your own research --
Lets see, a little bit more time waiting will tell us, whether the 3k support will hold or not.
Good luck.
-- not an investment advice -- do your own research --
Trade active
currently we are surfing on top of the 200 MA. This is quite good. In my opinion it would be better when we see a clear bottom pattern in this area. this is why I am watching for a double bottom, which may look like this:I am not expecting a big move to the upside in very near future. the more likely scenario could be some side way movement during 2019. I will use this time to stock up my BTC balance. What will you do?
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pay attention to the red resistance. Will we break through? In my opinion the odds for that are low, but lets see. In the case we do not succeed to break through and we will retrace, then I am looking for a re-buy in the mentioned zone. Anyway it is not recommended to buy now at a resistance area. Even a break through to the upside, will bring some chances to re-buy in the price area of today.
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Wow, that was a nice ralley until now! currently BTC touches the red trendline in the chart. lets see whether we will see a pullback or not. I just adopted the expected re-buy zone, because in my opinion the nice ralley this week negated the buy-zone I mentioned before (not probable anymore).The new re-buy zone, I am looking for, is between 5422 and 4932 USD.
Lets see in a few weeks, days or hours what the chart is showing us new. crazy bitcoin ;)
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