ammypatt1987
Long

BTC-USD: Move to 9200 soon

BYBIT:BTCUSD   Bitcoin / U.S. Dollar
Hello everyone;

Today 27 May 2020,

BTC daily chart is looking good for bears, as BTC still maintaining below the 21EMA. However, the overall long-term trend is still to the upside as BTC trending above the 200SMA Daily.

From the Daily BB, I am expecting a upside move today to test the Mid-line which is coming around 9200 area. BTC already tested the lower standard deviation lines and maintained support.
https://www.tradingview.com/chart/l7rOaz...

Now coming to the lower TFs, the resistance boxes I shared yesterday have held BTC nicely till now. Price is consolidating between the upper box for long time now, which is a positive sign for bulls. Hence for today, I am expecting a break above this box and then move to upside, this also matches with the Daily analysis I mentioned above (for BTC to move near 9200$),

In addition to this box we also have descending trend line coming around the same area for BTC , this also confirms that the break above from this area will most likely give us good upside move.

As price moves, I will share my trade setup in my Discord, but in brief, once you see break to upside then pay attention to re-test of this box/ trend line , this is where I will start a long ladder.

Happy and safe trading…
Chao…
Free Discord for BTC and Alt trade alerts... https://discord.gg/RhmfeaH

Comments

it will be quite interesing to follow, my view
Reply
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