BTC...any bull trend confirmed?
Updated
Hi everyone
Solid answering to this question is not easy , I am a cautious trader so
always take some safe area of salvation on my trades.
now if we look from technical aspect to the chart we can see most
time frames confirm bull trend and from indicators view can say yes.
DMI on 4h and daily chart is positive. 50MA cross above 200MA and
price is moving above 200MA and Ichimoku cloud, all indicators confirm
that bulls have upper hand now .from the price action view price is
moving above all important trend lines ( the blue one is from March 2020)
yellow down trend line already broken too.
so every signs from a Technical analysis indicates we are surly in a bull trend
the only matter that concerns me to be cautious is WAR happening in Europe.
if any more tension happens between Ukraine and Russia total market respond sharply
and odds will change. Cryptos could drop fast.
.............................................................................................
My strategy: ...What should we do?
I'm bullish now and already took long position on BTC. watching closely the market
and tracking political news too. if price pulls back to my golden triangle warns me
I already set my stop below( red triangle area) on my chart in the case of any sharp drop.
so strongly advise you if in long position set your proper loss.
Enjoy the market
Solid answering to this question is not easy , I am a cautious trader so
always take some safe area of salvation on my trades.
now if we look from technical aspect to the chart we can see most
time frames confirm bull trend and from indicators view can say yes.
DMI on 4h and daily chart is positive. 50MA cross above 200MA and
price is moving above 200MA and Ichimoku cloud, all indicators confirm
that bulls have upper hand now .from the price action view price is
moving above all important trend lines ( the blue one is from March 2020)
yellow down trend line already broken too.
so every signs from a Technical analysis indicates we are surly in a bull trend
the only matter that concerns me to be cautious is WAR happening in Europe.
if any more tension happens between Ukraine and Russia total market respond sharply
and odds will change. Cryptos could drop fast.
.............................................................................................
My strategy: ...What should we do?
I'm bullish now and already took long position on BTC. watching closely the market
and tracking political news too. if price pulls back to my golden triangle warns me
I already set my stop below( red triangle area) on my chart in the case of any sharp drop.
so strongly advise you if in long position set your proper loss.
Enjoy the market
Trade active
I'm following the pattern to bounce upward. if not bellow 39300 would be the stop loss.Note
If our harmonic pattern works then it is bullish sign. the yellow trend line is now acting as dynamic support
if the price break 39300 support level may drop to 3650$.
or can bounce from our yellow trend line upward.
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