Following a 6,795.5 High during the weekend, BTCUSD has maintained the high 4H trading levels, still on Higher Lows, indicating that the Channel Up (RSI = 58.509, MACD = 50.300, B/BP = 103.6879) should be seeking a Higher High next (technically the MA200 = 7053.3). The previous 1W candle closed in the week on +5.35% in gains, completing a bullish two week streak. Although we remain long (TP = 7,500, 0.618 Fibonacci retracement on 1D), we do not expect this week to close above 7,100 as the Monthly candle has to close on a relatively significant loss (monthly sequence of the 2018 bear cycle). However the longer the price trades below 7,000 and this consolidation on 1D extends (RSI = 51.313, ADX = 41.827), the more the pattern will resemble a bearish flag. That is why it is important for Bitcoin to continue trading above the "Break out Point" seen on the chart. So far our trading plan is intact.
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investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.
Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
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.