Buy the Breakout, if price action crosses the downtrend line to the north.
LONG
- Short term Uptrend
- Market Sediment seems to support further upward movement
- BULLish Stochastic
- BULLish RSI
- BULLish MACD
- BULLish Volume
-Note: BULLish volume= Volume increase with price increase. But with a low quantity asset like BTC, and not much selling, price can increase on smaller than normal volume
Forecast-
- I think BTC will hesitate for a short time period and then breakout northbound. (This hesitation could violate the short term uptrend line)
- BTC has already been on a 7 day rally, might need a day or 3 to catch its breath before downtrend line broken, and new BULL price cycle begins. Regardless of timeframe buy the breakout.
LONG
- Short term Uptrend
- Market Sediment seems to support further upward movement
- BULLish Stochastic
- BULLish RSI
- BULLish MACD
- BULLish Volume
-Note: BULLish volume= Volume increase with price increase. But with a low quantity asset like BTC, and not much selling, price can increase on smaller than normal volume
Forecast-
- I think BTC will hesitate for a short time period and then breakout northbound. (This hesitation could violate the short term uptrend line)
- BTC has already been on a 7 day rally, might need a day or 3 to catch its breath before downtrend line broken, and new BULL price cycle begins. Regardless of timeframe buy the breakout.
Note
Bounce in-peak volume stops price movement
-reversal candle
need confirmation candle tomorrow, if so look towards down trend line. Lets try again.
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.
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.