Bitcoin aims to 16k levels
Hi!
Bitcoin just corrected from 12k up to 0.618 fibb (9700) and made a direct jump to the resistance of the 10600.
Although the last fall caused a lot of pain, the chart still presents me with possibilities for new highs, for that we need Bitcoin to break the wedge and stay above 11k in the coming days. I can't fight against the trend and so I'll make a buy on 11k levels.
This can be risky, ain't no shame if you got stopped, you might always use stop. Keep it simple.
Resume:
- Retraced to 0.618 fibb (9700) from last bullish impulsive wave
- Bullish Wedge
- Trend still Bullish
- RSI pointing up
Conclusion:
- Long
Strategy:
- Wait for a confirmation and then buy only if we're above 11k levels
- Move Stop once the market is in favour
Target
- 16000
****
Manage your stop according to your risk management. This is not financial advice.
Bitcoin just corrected from 12k up to 0.618 fibb (9700) and made a direct jump to the resistance of the 10600.
Although the last fall caused a lot of pain, the chart still presents me with possibilities for new highs, for that we need Bitcoin to break the wedge and stay above 11k in the coming days. I can't fight against the trend and so I'll make a buy on 11k levels.
This can be risky, ain't no shame if you got stopped, you might always use stop. Keep it simple.
Resume:
- Retraced to 0.618 fibb (9700) from last bullish impulsive wave
- Bullish Wedge
- Trend still Bullish
- RSI pointing up
Conclusion:
- Long
Strategy:
- Wait for a confirmation and then buy only if we're above 11k levels
- Move Stop once the market is in favour
Target
- 16000
****
Manage your stop according to your risk management. This is not financial advice.
Trade active
Note
We break out. Note
We're about to see a breakout soon. Note
Moved my stop loss to 10900, -2% from my entry.
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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.