BitcoinLong
BTC/USD. STILL GOOD LONG POTENTIAL
Hello Everyone!
Yesterday I posted an idea in which I described a future price move with the Bart Simpson's Head pattern and said that the trendline will be broken.
Let's see what we have now:
1) BTC price didn't go as far as I expected and didn't reach my TP(I have actually got a 'friendly' e-mail from BITMEX, because I exceeded the risks to much)
2) BART appeared to be a false break of the trend line
3) Now we have another trend line and a WEDGE has formed.
4) Bullish divergence on RSI indicator that you can see on the bottom of the post
5) Three PIN BARS from the wedge support
6) Too many SHORT positions are now opened
I think that these reasons are a good support for opening LONG position. Now I expect a move in upward direction to $3800-3875 zone, if the price breaks this zone, I will expect a further move to $4000. Subsequently, comes $4080 and so on. But let's firstly see what BTC gonna do in the mentioned zone.
NOTE: There is still an opportunity for FLAG formation that will lead the price to at least $3500.
General Signal: LONG from current with leverage no more than 25(if you don't want to receive 'friendly' email, if the price goes a little lower)
For Conservative Traders: wait till the price breaks through 3800, and open LONG after the confirmation.
Yesterday I posted an idea in which I described a future price move with the Bart Simpson's Head pattern and said that the trendline will be broken.
Let's see what we have now:
1) BTC price didn't go as far as I expected and didn't reach my TP(I have actually got a 'friendly' e-mail from BITMEX, because I exceeded the risks to much)
2) BART appeared to be a false break of the trend line
3) Now we have another trend line and a WEDGE has formed.
4) Bullish divergence on RSI indicator that you can see on the bottom of the post
5) Three PIN BARS from the wedge support
6) Too many SHORT positions are now opened
I think that these reasons are a good support for opening LONG position. Now I expect a move in upward direction to $3800-3875 zone, if the price breaks this zone, I will expect a further move to $4000. Subsequently, comes $4080 and so on. But let's firstly see what BTC gonna do in the mentioned zone.
NOTE: There is still an opportunity for FLAG formation that will lead the price to at least $3500.
General Signal: LONG from current with leverage no more than 25(if you don't want to receive 'friendly' email, if the price goes a little lower)
For Conservative Traders: wait till the price breaks through 3800, and open LONG after the confirmation.
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