Bitcoin continues its sideways consolidation below the massive resistance zone $470 - $500 and is currently dancing around its 50MA ($443).
Unfortunately an important trend-line has been broken last week. The Bollinger Bands are still moving sideways predicting that soon or later a big move will come. Basically everything is still bullish but I don't like the ongoing behavior. Investigating the past of Bitcoin I realized that the exponential moving average is more helpful for Bitcoin´s technical analysis. Therefore I am now using the pink EMA200 ($403). Should Bitcoin start to correct this line will become the logical first target. That would mean a 10% correction is possible. I am not willing to give back our hard earned profits. We can always buy back later. Therefore I recommend to move the stop to $435 (last week's low). This stop will move us to the sidelines as soon as Bitcoin should start to plunge. In that case we should buy back our Bitcoins below $405.
Unfortunately an important trend-line has been broken last week. The Bollinger Bands are still moving sideways predicting that soon or later a big move will come. Basically everything is still bullish but I don't like the ongoing behavior. Investigating the past of Bitcoin I realized that the exponential moving average is more helpful for Bitcoin´s technical analysis. Therefore I am now using the pink EMA200 ($403). Should Bitcoin start to correct this line will become the logical first target. That would mean a 10% correction is possible. I am not willing to give back our hard earned profits. We can always buy back later. Therefore I recommend to move the stop to $435 (last week's low). This stop will move us to the sidelines as soon as Bitcoin should start to plunge. In that case we should buy back our Bitcoins below $405.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.