BTC/USD - Continuation Move?
Updated
Same thoughts as before, but upside possibility is increased now due to promising candlesticks.
There's a few conditions to be met in order to fully confirm the up move. They are:
1) Bitcoin 0.77% must NOT close below 6560 again in order for the bullish breakout to stand.
2) Price must break above 6660 (If taking an aggressive stance), or 6749 (Conservative trading strategy) and RETEST it for a safe buy opportunity. Now there's the huge shooting star signal, we now need to break the top of the shooting star range before taking a buy. By not waiting, it's too risky.
There's also a condition that qualifies for a short.
1) Break below 6550 would break side-wards support which negates ALL the higher lows recently. It'd be a nice short opportunity.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
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There's a few conditions to be met in order to fully confirm the up move. They are:
1) Bitcoin 0.77% must NOT close below 6560 again in order for the bullish breakout to stand.
2) Price must break above 6660 (If taking an aggressive stance), or 6749 (Conservative trading strategy) and RETEST it for a safe buy opportunity. Now there's the huge shooting star signal, we now need to break the top of the shooting star range before taking a buy. By not waiting, it's too risky.
There's also a condition that qualifies for a short.
1) Break below 6550 would break side-wards support which negates ALL the higher lows recently. It'd be a nice short opportunity.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it.
Thank you for your support.
Note
Still waiting :-)Note
New analysis on Bitcoin posted. :-)
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