Bitcoin - Price range to buy as we head to 6900 or even more?!
Updated
Bitcoin has finally recovered a little bit after that dump from 7400.
We quickly pumped past the 21 day MA in just 1 day with good volume leaving little opportunity for an ideal buy area for most traders.
RSI and stoch are overbought in the 4hr, We could be expecting a possible retrace to 6580-6630 ranges soon! That would be a decent area to open a long position as they will serve as strong support region.
A daily close below 6550 would invalidate our trade idea - and would be signal to sell.
If market goes below 6500, It would mean the bears are back in business.
If we close above 6800 on the daily - BUY ASAP. You wont get any more opportunities!!
We quickly pumped past the 21 day MA in just 1 day with good volume leaving little opportunity for an ideal buy area for most traders.
RSI and stoch are overbought in the 4hr, We could be expecting a possible retrace to 6580-6630 ranges soon! That would be a decent area to open a long position as they will serve as strong support region.
A daily close below 6550 would invalidate our trade idea - and would be signal to sell.
If market goes below 6500, It would mean the bears are back in business.
If we close above 6800 on the daily - BUY ASAP. You wont get any more opportunities!!
Trade active
Moving market sell orders to less than 6400 for now to remove any nasty wicks! Ichimoku cloud supports at 6450ish range!Trade active
Well unfortunately only the bitfinex chart moved the price till our target regions. None of the other exchanges showed this price. Bitmex came till 6634 Which would have been a decent place to be long. We can only hope price will come down again to test the supports!Note
We are at those levels. Can only buy and pray everything works out. But Keep a watch on the price - Very tight to call this one.Note
Also if the daily closes below the 21 day MA - Sell.Trade closed: stop reached
Well guys, Sorry this one did not work out. Very tight to call. I hope you guys sold after the drop from 6500. Just a note of caution - If we close above 6550 on the daily today - Don't be afraid to buy back.
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