Bullish sentiment is back for BTC? At least for now...
Hello,
My last analysis was invalidated by the fake breakout candle and the price eventually went in the desired direction. Anyway, since the structure has been broken, my thoughts have shifted more towards bullish case. We have seen a strong impulse when the price surged more than 40%. Generally, the second and possibly the third impulse follows such strong moves. So, I expect the test of 11000 and likely 14000 before another major pullback. If we do test 14000 and bitcoin pulls back to 9500-10000, I will strongly consider even more bullish case and eventually the test of the 20.000 zone by the summer 2020.
From now (9310 at the moment of writing), the impulse is very likely to happen. But what is even more likely is a strong red candle for panic sell followed by a sharp reversal to the upside. This outcome will leave many people behind.
========================================
GENERAL RULES TO KEEP YOU SAFE:
1. Do not risk more than 2-3% per trade!
2. Always use stop-loss!
3. Do not FOMO!
4. Do not add to a losing trade
THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!
My last analysis was invalidated by the fake breakout candle and the price eventually went in the desired direction. Anyway, since the structure has been broken, my thoughts have shifted more towards bullish case. We have seen a strong impulse when the price surged more than 40%. Generally, the second and possibly the third impulse follows such strong moves. So, I expect the test of 11000 and likely 14000 before another major pullback. If we do test 14000 and bitcoin pulls back to 9500-10000, I will strongly consider even more bullish case and eventually the test of the 20.000 zone by the summer 2020.
From now (9310 at the moment of writing), the impulse is very likely to happen. But what is even more likely is a strong red candle for panic sell followed by a sharp reversal to the upside. This outcome will leave many people behind.
========================================
GENERAL RULES TO KEEP YOU SAFE:
1. Do not risk more than 2-3% per trade!
2. Always use stop-loss!
3. Do not FOMO!
4. Do not add to a losing trade
THIS IS NOT A FINANCIAL ADVICE so, please do not follow it if you are in doubt. DYOR!
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