BitcoinLong
BTCUSD Daily Buy Signal
Finally we got a new daily buy signal on the Weiss indicator.
This is usually a very reliable signal when still in a trend.
As previously explained:
- Possible scenarios are we go back to the .38 Fib Extension at around 42.430 and get a new buy signal setting us up for the races on the final stretch towards 58-59k. (Preferred)
- Second option is the more uglier, that we get a few days choppy movement around the 200 MA, before going higher.
We got the more uglier option, with 7 days choppy movement around the 200 daily moving average.
Now we need to break previous local highs at approx. 48k and then the psychological level of 50k to boost us up into the 58-59k range by mid September.
This is usually a very reliable signal when still in a trend.
As previously explained:
- Possible scenarios are we go back to the .38 Fib Extension at around 42.430 and get a new buy signal setting us up for the races on the final stretch towards 58-59k. (Preferred)
- Second option is the more uglier, that we get a few days choppy movement around the 200 MA, before going higher.
We got the more uglier option, with 7 days choppy movement around the 200 daily moving average.
Now we need to break previous local highs at approx. 48k and then the psychological level of 50k to boost us up into the 58-59k range by mid September.
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