Taking a long here on Bitcoin, even though the short-term trend has possibly shifted to the downside with lower lows and lower highs, the overall long-term trend sits towards the upside. Acting on a signal to go long makes sense because of the latter.
SL below the recent low and TP x3, but willing to closer sooner.
I'm long BTCUSD and shortly will create a video that explains exactly why Im going long.
We all know what happened with Paypal and Bitcoin last week... today technicals show me strong bullish signs and I decided to go long!
The video will expalin soon but the picture tells its story too,
30% Fibonacci rejection (supprot) supported by a basic contraction of...
Even tought im a day day trader by nature... I like grabbing a swing trade here and there and this is one of them.
On the 4H I see a rising wedge, while on the daily a strong resistance of my fib levels and a decent rejection... further the Brexit talks are building a bearish sentiment.
Thats all from me folks.
