Bitcoin USD - Long - Bottom Signals are in.
Pleased to bring you a nice bullish chart in these dark times.
We recently saw a descending wedge breakout on the 4H paired with bull div down at our lowest low in the last day or two. Since then many traders are calling for more dump - I'm calling this the bottom and a decent place to try opening some longs with stops below our immediate support (first green box) - this zone was taken from the 3D chart support.
Daily Chart shown:
MACD is showing some nice bull div forming a higher low while price makes a SLIGHTLY lower low than our previous test of this zone. The RSI has bounced at this exact spot (see circles on RSI) several times - should the RSI head lower it would be reason for concern.
Additional support zones reflected in the chart in green, light pink lines are potential reversals if we do continue up - watch these for short opportunities as they're aligned with previous support turned resistance zones and the FIB levels (left side of chart).
Not throwing out any targets at this point but I'd like to see at least $7500 soon.
Follow me on twitter @lastapricot for trade signals and calls on both btc and other alt coins I trade.
-Eric
We recently saw a descending wedge breakout on the 4H paired with bull div down at our lowest low in the last day or two. Since then many traders are calling for more dump - I'm calling this the bottom and a decent place to try opening some longs with stops below our immediate support (first green box) - this zone was taken from the 3D chart support.
Daily Chart shown:
MACD is showing some nice bull div forming a higher low while price makes a SLIGHTLY lower low than our previous test of this zone. The RSI has bounced at this exact spot (see circles on RSI) several times - should the RSI head lower it would be reason for concern.
Additional support zones reflected in the chart in green, light pink lines are potential reversals if we do continue up - watch these for short opportunities as they're aligned with previous support turned resistance zones and the FIB levels (left side of chart).
Not throwing out any targets at this point but I'd like to see at least $7500 soon.
Follow me on twitter @lastapricot for trade signals and calls on both btc and other alt coins I trade.
-Eric
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