Bitcoin: Wow!!! What Does It Mean?
If you bought Bitcoin based on the reversal signal from SMA200 and the breakout above the local downtrend line, you must be happy with good profit. The market made a gift for you!
What are the reasons of such an amazing upward movement? Is it supported by the fundamental factors? If you know the truth, write in comments!
From the technical point of view, the market showed the strength of the upward movement and the buyers as well. We can talk about the uptrend in the 4H chart. If this upward movement is more than just a manipulated movement, we will see 8000USD soon. The market has everything to start the journey to 10 000USD as well.
If you missed these 2 buy signals, wait for the pullbacks and reversal signals from SMA100, support zones, and open long positions. Don't forget about stop orders and proper money management.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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.