Looking at the 1H chart, the Bitcoin price is shaping a bullish flag pattern which might lead BTCUSD to $11,160 (target 1), then $11,647 (target 2), and $12,056 (Target 3). These are all strong resistance points that are supported by Fibonacci Retracement as shown on the chart. The longer-term also shows a bullish trend to be continued. But before we enter, we have to wait for the RSI to do some corrections as it has been above 80 for some time. Also, wait for an entry trigger like a candlestick pattern on the resistance area (10,808 and 10,830).
4H Chart:
Your thoughts?
4H Chart:
Your thoughts?
Comment:
Longed and take profit at $11,000 was hit. Looking for another entry point.
Comment:
A divergent line is being shaped on the RSI14. Be careful.
Trade closed: target reached:
2nd target also reached. looking for another entry!
