Long

BTC/USD possible Bullish Zone at 8,200

In hindsight, it’s no surprise that BTCUSD was taken over by the bears for sometime now. We can clearly see that there was a breakout from an ascending channel after it peaked at 10,400 at about the 13th of February. There is however hope for the bulls. We may see a reversal at the 8,200 zone as there is currently some divergence on the RSI on the 4H timeframe, indicating a possible drop in bearish momentum. The ideal entry would be at the break of the resistance trend line, that way we would be sure that the bulls have moved in already before we jump in. If the 8,200 zone however doesn’t hold, then our next target would be around the 6900 zone, as according to the 90% #falcontradingguidance rule, we should start seeing some correction at that zone and a potential entry for a bull run to the upside.

emeka83

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