Bitcoin, without a doubt the market leader in the cryptocurrency world seems to be showing signs of recovery and good bullish moves in the most recent days.
We've seen a massive triangle formed and broken up showing clear signs of bullish momentum and we've also broken the massive bearish trend that bitcoin has created over
the past two months and we've broken up with good volume from the $6000 price point.
Bitcoin seems to be holding the current price quite well and happen to be consolidating above the trend, which is a clear sign of reversal.
With that said market sentiment can change very quickly, but from what we've been observing it is a nice spot for us to go long!
Stops can be below the red/black lines depending on your risk tolerance/time horizon/liquidity needs.
Take profits can be above the blue/green lines depending on the three conditions above.
Hope everyone has a fantastic week. Any and all feedback is greatly appreciated!
We've seen a massive triangle formed and broken up showing clear signs of bullish momentum and we've also broken the massive bearish trend that bitcoin has created over
the past two months and we've broken up with good volume from the $6000 price point.
Bitcoin seems to be holding the current price quite well and happen to be consolidating above the trend, which is a clear sign of reversal.
With that said market sentiment can change very quickly, but from what we've been observing it is a nice spot for us to go long!
Stops can be below the red/black lines depending on your risk tolerance/time horizon/liquidity needs.
Take profits can be above the blue/green lines depending on the three conditions above.
Hope everyone has a fantastic week. Any and all feedback is greatly appreciated!
Trade active
Trade closed manually:
Closed, low volume and we're breaking down closed for about 3% profit! We'll be keeping a close eye
Trade active:
Breaking out again :)
Trade closed manually:
162Trading team is going away for the week, closing all trades! We'll re-visit all of these when we return.
Comment:
BTC has yet to break the trend on log, would advise anyone long to close and wait for confirmation of trend reversal. BTC seems to be breaking down!
