tradingbudha
Long

Bitcoin back to Bull Mode targetting 12k

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi all,
I am back with new chart. In this chart I am not setting any new targets but I can suggest that bitcoin is back to bull team so we can expect 10.5-12k any time soon. I strictly suggest against shorting until price under 9k. Ideal long stops should be under 9k.
I will keep updating this chart along with time.

Please like and follow for the updates.

Best,
Budha
Comment: smaller time frames are little bearish but as long as we are above 9k there is no need to panic but in worse cases if price is under 9k its not wise to long so I suggest stay in long with stops under 9k
Comment: could be a good entry as chances for exploding are high
Comment: We hit 10k on a decent wick which is only a good sign to stay in long
Comment: price fighting in the support area, so if tomorrow candle is red we can close our long and can expect 7500s. However there is a good chance it can bounce here which can lead to a good pump, that said as saying since beginning of this chart : "Short only under 9k and stay in long with SL under 9k". There is absolutely no need to fear if price is above 9k.

Best,
Budha
Comment: with tiny luck we ended up in daily green candle but tough part is it has to close green. If daily closed green and next day candle started green there will be a good bull run, however to discuss negative sides if you notice our daily candle turned red from here is a strong sign not to stay in long position as it could lead to major weekly correction.

AGAIN IN SIMPLE WORDS, STAY IN LONG ABOVE 9K BUT IMMEDIATELY CLOSE THE LONGS WHEN YOU SEE PRICE UNDER 9K.

BEST,
BUDHA
Trade closed manually: Not looking very good at this point, It can turn bullish in which case I may come with new chart at the better entry later. Again Longer are so safe and can see 12ks soon as long as price holds above 9k but not very safe under 9k. I hope I come with new chart soon with much better analysis than this

Best,
Budha
Comment: published an excellent trade set up here

Comments

Interesting idea
Reply
tradingbudha VincePrince
@VincePrince, Good chart thank you. Unfortunately I don't trade forex
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