First target: REACHED.
Hello everyone! The bulls are on fire here! In my last analysis I told you guys I wasn’t expecting a fast recovery here, despite being long, and I was ready for some sideways movement. Fortunately, I was wrong! And most important, BTC hit our first target, which is the green line. Also, if you missed my last analysis, the link to it is below, and remember to follow me to keep in touch with our trades and analyses. My TWITTER has interesting content too, go check it!
Now, BTC hit its first target and you could’ve sold your position if you are a swing trader, like me, and wait for another opportunity, and that’s fine, but I think it’s worth to wait for a bearish sign, because in my opinion BTC still has a lot of potential. It’s interesting to notice that it found support at that blue line, which was previous bottom in the past, and the price is getting closer to the 21 ema, while trading between the green and blue lines. Maybe it will form a pennant here, but we must wait a little more for more confirmation. Now, let’s see the daily chart:
We see that BTC is trading above the green trendline, the 21 ema and the light blue line, and that means the bulls are very strong here, and as I said, I didn’t expect that. In my opinion the price could sink all the way down to the trendline or the 21 ema and the bull trend would still be strong. The real challenge here is to keep the price up and trade above the pink line, then we will see another pivot that can lead BTC far beyond the U$ 10k.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
Now, BTC hit its first target and you could’ve sold your position if you are a swing trader, like me, and wait for another opportunity, and that’s fine, but I think it’s worth to wait for a bearish sign, because in my opinion BTC still has a lot of potential. It’s interesting to notice that it found support at that blue line, which was previous bottom in the past, and the price is getting closer to the 21 ema, while trading between the green and blue lines. Maybe it will form a pennant here, but we must wait a little more for more confirmation. Now, let’s see the daily chart:
We see that BTC is trading above the green trendline, the 21 ema and the light blue line, and that means the bulls are very strong here, and as I said, I didn’t expect that. In my opinion the price could sink all the way down to the trendline or the 21 ema and the bull trend would still be strong. The real challenge here is to keep the price up and trade above the pink line, then we will see another pivot that can lead BTC far beyond the U$ 10k.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
⚠️ Want to take your trading to the next level?
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
👉 Join the Finance Hydra VIP Mentorship - 6 weeks of mentoring with weekly meetings and ongoing support. Limited places available!
✅ Find out more and sign up: thefinancehydra.com/
Related publications
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.