BTCUSD Bitcoin Forecast : SQUEEZING AGAINST 100 MA
Updated
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BTC has been following an ascending wedge line since 11 May 1800pm.
It was rejected sharply by the 200 MA on 11 May 1200pm, where a sharp spike was quickly overturned by massive selling pressure
Now since 13 May 0000pm, it has been following the underside of 100 MA closely, proving to be a strong resistance.
We look to see if BTCUSD BITCOIN BREAKS TO THE UPSIDE of the 100 MA (white line), then our LONG targets would be @ 9000 next, 9200 then 9500 if possible.
Most likely, I would see a sharp rejection @9000 for a SHORT to the support level @ 8500, for a continuation of the sideways movement in the 8500-9000 range.
As always trade carefully with stop losses and FEEL FREE TO LIKE AND COMMENT YOUR THOUGHTS DOWN BELOW!
Regards,
GOL D ROGER
BTC has been following an ascending wedge line since 11 May 1800pm.
It was rejected sharply by the 200 MA on 11 May 1200pm, where a sharp spike was quickly overturned by massive selling pressure
Now since 13 May 0000pm, it has been following the underside of 100 MA closely, proving to be a strong resistance.
We look to see if BTCUSD BITCOIN BREAKS TO THE UPSIDE of the 100 MA (white line), then our LONG targets would be @ 9000 next, 9200 then 9500 if possible.
Most likely, I would see a sharp rejection @9000 for a SHORT to the support level @ 8500, for a continuation of the sideways movement in the 8500-9000 range.
As always trade carefully with stop losses and FEEL FREE TO LIKE AND COMMENT YOUR THOUGHTS DOWN BELOW!
Regards,
GOL D ROGER
Trade closed: target reached
Targets 1 and 2 of scenario A reached:TP1 @ 9200
TP2 @ 9450
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