Hello bulls and bears,
As mentioned in the previous post, bulls are still strong right now and recovered from both, the last dip pre-halving and the Covid-19 panic sell. The weekly is looking extremely good, MACD cross and RSI breakthrough. The current fractal looks similar to the one of end of May 2019 (marked it with a yellow circle). If we manage to break the triangle and keep it as support, I am sure we will see the 20k end of this year. I can see us retracing a bit to the lower 9k to recharge the bull power.
In terms of trades, I closed my position at 9.7k during the last 10k rally and went in a long position again at around 8.4k. I am planning to hold the position now as it seems that we have a good chance of breaking through. I will take profits along the way until we reach our ATH where I think we will have a stronger pullback.
Bears should be really careful right now. People keep denying the current run and arguing that we need to go back as the Bitcoin halving FOMO is over. I think people were cautious already and we already shook out the weak hands during the last dip.
Happy trading to everyone.
This is an update on my previous post:
As mentioned in the previous post, bulls are still strong right now and recovered from both, the last dip pre-halving and the Covid-19 panic sell. The weekly is looking extremely good, MACD cross and RSI breakthrough. The current fractal looks similar to the one of end of May 2019 (marked it with a yellow circle). If we manage to break the triangle and keep it as support, I am sure we will see the 20k end of this year. I can see us retracing a bit to the lower 9k to recharge the bull power.
In terms of trades, I closed my position at 9.7k during the last 10k rally and went in a long position again at around 8.4k. I am planning to hold the position now as it seems that we have a good chance of breaking through. I will take profits along the way until we reach our ATH where I think we will have a stronger pullback.
Bears should be really careful right now. People keep denying the current run and arguing that we need to go back as the Bitcoin halving FOMO is over. I think people were cautious already and we already shook out the weak hands during the last dip.
Happy trading to everyone.
This is an update on my previous post:
Nota
Three white soldier formation is established now confirming a strong bullish reversal from the previous dip.
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.