Thesis
Long
Bitcoin
Chart Timeframe/Type
Day/Log Scale
The name has been showing strength on the back of recent news that CME Group will be entering the cryptocurrency market and launching Bitcoin Futures http://www.cmegroup.com/media-room/press-releases/2017/10/31/cme_group_announceslaunchofbitcoinfutures.html
Confirmations:
1. Higher highs on Day chart
2. Higher highs on Week chart
3. Above 8 Day EMA
4. Above 21 Day EMA
Contradictions:
1. The price is currently below resistance upper trend line resistance which leaves the possibility for price to pull back to below $6,000.
2. The price is near a massive wall of sell orders at the $8,000 level
3. The price is below the next Fibonacci resistance level.
Trade:
LongBTCUSD
Related Trade:
None
Disclaimer: All charts are for informational purposes only and should not be considered recommendations to perform actions related to securities.
Long
BitcoinChart Timeframe/Type
Day/Log Scale
The name has been showing strength on the back of recent news that CME Group will be entering the cryptocurrency market and launching Bitcoin Futures http://www.cmegroup.com/media-room/press-releases/2017/10/31/cme_group_announceslaunchofbitcoinfutures.html
Confirmations:
1. Higher highs on Day chart
2. Higher highs on Week chart
3. Above 8 Day EMA
4. Above 21 Day EMA
Contradictions:
1. The price is currently below resistance upper trend line resistance which leaves the possibility for price to pull back to below $6,000.
2. The price is near a massive wall of sell orders at the $8,000 level
3. The price is below the next Fibonacci resistance level.
Trade:
Long
BTCUSD Related Trade:
None
Disclaimer: All charts are for informational purposes only and should not be considered recommendations to perform actions related to securities.
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.