Last time BTC broke the 7300-7500 EUROS resistance, it started a run up to 14,000 (see A).
Right now it is at that same level which coincides with middle of the boillinger band (B).
A break would IMHO signal a clear bull, up to 9600 euros in the short term.
But it could also not break this resistance and head down to re-test the 5200 bottom of the boillinger band.
I am encouraged by the break of MACD at (C) and going long with tight stops.
Right now it is at that same level which coincides with middle of the boillinger band (B).
A break would IMHO signal a clear bull, up to 9600 euros in the short term.
But it could also not break this resistance and head down to re-test the 5200 bottom of the boillinger band.
I am encouraged by the break of MACD at (C) and going long with tight stops.
Trade active:
We broke the middle of BB and are closing in on the top of the band around 9000 euros.
It coincides with the downtrend from the all time high and january top, so expect some short term pull back.
I would take profit at 9000 euros and watch for a break. Once it breaks, this will signal the end of the major downtrend from all time high and we will be in a longer term bull.
It coincides with the downtrend from the all time high and january top, so expect some short term pull back.
I would take profit at 9000 euros and watch for a break. Once it breaks, this will signal the end of the major downtrend from all time high and we will be in a longer term bull.
next stop 9500 eur ?