1h breakout and price near the weekly 50EMA!
Updated
Hy guys!
All the info is in the chart but to sum it up:
Bitcoin broke out of a 1h consolidation(triangle) and bulls probably will attack the weekly EMA 50, so its mandatory to watch the 7835USD level, before making a decision! In case bulls can push through, we can consider to go long if aggressive, however it could be better to wait for more confirmation and eventually trade a Pullback in case of a fakeout.
I wouldn't consider to go short!
PS: No matter how you trade, always use a SL and only risk a small percentage of your account!
---------------------------------------------------------------------------------------
I am trading on the best and most trustful crypto exchange PHEMEX!
🙏 Affiliate Link, with Bonuses:
Leverage Trading:
🔥 PHEMEX 60USD BONUS if you deposit 0.2BTC: phemex.com/web/user/register?referralCode=I7IUM
All the info is in the chart but to sum it up:
Bitcoin broke out of a 1h consolidation(triangle) and bulls probably will attack the weekly EMA 50, so its mandatory to watch the 7835USD level, before making a decision! In case bulls can push through, we can consider to go long if aggressive, however it could be better to wait for more confirmation and eventually trade a Pullback in case of a fakeout.
I wouldn't consider to go short!
PS: No matter how you trade, always use a SL and only risk a small percentage of your account!
---------------------------------------------------------------------------------------
I am trading on the best and most trustful crypto exchange PHEMEX!
🙏 Affiliate Link, with Bonuses:
Leverage Trading:
🔥 PHEMEX 60USD BONUS if you deposit 0.2BTC: phemex.com/web/user/register?referralCode=I7IUM
Trade active
Waiting for price price action near the weekly 50EMA!
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.