BITCOIN SETTING UP FOR A POP TO THE UPSIDE
A few weeks back I've seen many traders Calling long on bitcoin, However I've remained short and boy was the move rewarding!!!
Now I see 3 simple things which makes me believe that we are ready to Pop on BTCUSD. 1st on the weekly price has stalled at the 61.8% Fib retracement. Knowing This we can go down to the daily chart where I find it very interesting that BTCUSD has had many bearish days and the bullish days just weren't strong enough, But now looking at how price is trading, we see that price spiked below resistance, then came back up into the range with the 1st real sign of a proper BULLISH candles.
This then led me to the H4 time-frame, Where we can see that we have a perfect inverse head and shoulders Pattern which has broken the neckline and retested. I mean come on we cannot get it easier than that, Apart from other factors which are too much to mention I believe now is the time to BUY some BITCOIN.
Now I see 3 simple things which makes me believe that we are ready to Pop on BTCUSD. 1st on the weekly price has stalled at the 61.8% Fib retracement. Knowing This we can go down to the daily chart where I find it very interesting that BTCUSD has had many bearish days and the bullish days just weren't strong enough, But now looking at how price is trading, we see that price spiked below resistance, then came back up into the range with the 1st real sign of a proper BULLISH candles.
This then led me to the H4 time-frame, Where we can see that we have a perfect inverse head and shoulders Pattern which has broken the neckline and retested. I mean come on we cannot get it easier than that, Apart from other factors which are too much to mention I believe now is the time to BUY some BITCOIN.
Penafian
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