Bitcoin (XBTUSD) Rejects Sellers (DragonFly Doji)

Updated

Bitcoin (XBTUSD) just printed a dragonfly doji on the 4H time frame.

Marked with a yellow circle, this is reversal candlestick and shows a complete rejection of the sellers.

All support levels such as EMA100, EMA200 and EMA300 were tested with a close above. MA200 wasn't reached.

With the last red candle and now this dragonfly doji, we can see that there is a clear fight between the bears and the bulls. This rejection is a strong signal, so we will open a trade in this position focusing on upside continuation of the trend.

This signal is also visible on the daily time frame. We will focus our trade on this time frame to make it longer term for us.

Here is the chart:

If you would like to see a full trade shared next for XBTUSD, makes sure to hit LIKE to show your support.

Thanks a lot for reading.

Namaste.

Note

XBT LONG BitMEX Trade:

Note

We are moving... More action:

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Note

This last candlestick that closed also supports our previous analysis and view.

Bitcoin (XBTUSD) closed above EMA50 on the 4H Time Frame, battling major resistance... A high volume breakout... This is good for us, for the bulls:

On the 1H Time Frame we can see that this huge resistance was marked by EMA200. This can now work as support.

Bitcoin stopped at MA200 (black line), that's where resistance will be faced next on the way up.

We have an active trade with more than 100% ROE potential, we can collect this pretty soon.

Thanks for the continued support.

Namaste.

Note

Ripple (XRPH19):

Litecoin (LTCH19):

AlanSantana

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