BTC - Trend Reversal
Updated
Bitcoin is showing strength after the dip it had .
However, this may not be the case!
I'm bullish on Bitcoin, long-term and mid-term, but from the chart indications, the trend is wicked.
If you take notice Bitcoin has created a inverted Head and Shoulders Pattern, creating a Low and Higher Lows.
Bitcoin must continue to rise in price staying into the orange parallel channel so I'm buying now to ride it up with a stop loss put in place, or what hodlers who DCA call it buying the dips for a better acumulation.
If you would like to trade it and ride it up, You should have your Stop Loss put in Place in case price happens to follow a downtrend.
Bitcoin must Continue to Rise up in Price !
Notice that the yellow 20MA is headed down into a 'death' crossover with the 50MA taking the price down with it.
For the moment this chart is being released my bias is Neutral on the short term, but bullish in mid-term and long-term.
TRADE SAFE
- Please do your own research before partaking on any trading activities based upon this Idea which may put you in loss if not handled properly!
We are here to make things clearer and understandable for Bitcoin Traders.
Do your own research with your own Diligence .
However, this may not be the case!
I'm bullish on Bitcoin, long-term and mid-term, but from the chart indications, the trend is wicked.
If you take notice Bitcoin has created a inverted Head and Shoulders Pattern, creating a Low and Higher Lows.
Bitcoin must continue to rise in price staying into the orange parallel channel so I'm buying now to ride it up with a stop loss put in place, or what hodlers who DCA call it buying the dips for a better acumulation.
If you would like to trade it and ride it up, You should have your Stop Loss put in Place in case price happens to follow a downtrend.
Bitcoin must Continue to Rise up in Price !
Notice that the yellow 20MA is headed down into a 'death' crossover with the 50MA taking the price down with it.
For the moment this chart is being released my bias is Neutral on the short term, but bullish in mid-term and long-term.
TRADE SAFE
- Please do your own research before partaking on any trading activities based upon this Idea which may put you in loss if not handled properly!
We are here to make things clearer and understandable for Bitcoin Traders.
Do your own research with your own Diligence .
Note
Bitcoin confirmed the Death Cross of Moving Averagen on the 1 Hour time-frame.In the 4 Hours time frame, 20 MA is headed upside down ready to deathcross, while in the Daily timeframe, at the moment Bitcoin is below the 20 MA by 50$, and it must close at the price of 47.956$ and above in order to find support and confirm the tomorrow's price action going up .
Yesterday Bitcoin managed to close above the 20MA even tho with a Wick, telling us the price was rejected from 52.600$ to 50.000$ putting an end to the daily candlestick close.
Note that DXY(Dollar Index) has pushed high in the 4 Hr time-frame, and Indicies and Equities markets are bleeding.
S&P500 and also DJIA Dow Jones Inds. Avrg are falling quite enough today.
Beware of Bitcoin trading for now.
If the Markets Crash, Bitcoin will get dragged with it in the short term, gifting us to buy Bitcoin cheaper.
And don't worry!
Bitcoin recovers in a much faster timespan than the Traditional Markets.
Note
Hope you enjoyed your 30%+ ROI upon this trading idea.Salute !
Keep it going on...
TRADE SAFE
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