Bitcoin remains broadly in control of bulls as they take out 9250 resistance with ease last week. It is seen to be pulling back as we write this article, while support is expected to come in around 8300/8400 levels. Bulls are looking poised to resume its rally from 8300 levels and push through the next in line resistance at 10500 respectively. Overall structure remains extremely encouraging to bulls as they trade above 3850 handle. A larger degree Wave (3) seems to be unfolding, within Wave ((5)) since 3122 lows in December 2018.
Strategy:
Long against 3850, targeting above 10500 in the near term.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage
Strategy:
Long against 3850, targeting above 10500 in the near term.
Legal Disclaimer: This article is not investment advice. The data provided is for marketing material purposes and is not intended to confuse nor guide our clients on trading decisions. Any investment activity performed is perceived to be a self-directed decision. Exclusive Markets is not liable for losses that may occur because of a decision made after reading the information published on our research page or any other media.
Risk Warning: Trading the capital markets is risky therefore further knowledge and experience may be required. Apply appropriate risk and money management always and ensure the implementation of safe leverage
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.