Long Signal for BTC/USD
After yesterday's remarkable green candle my model gave a Long signal for #Bitcoin. We have two positive signs:
Meanwhile price should overcome three major resistances:
I should clearly state that this is probably going to be a counter-trend movement. If you're looking signs for a bull market, consistency above 9000 is your level.
Place your Stop Loss @6050 and don't risk more than 25% of your total capital.
- Inverted Head & Shoulders pattern forming (A close above 6800 is required for confirmation. If it's rejected we'll have a serious downturn)
- Long term Falling Wedge pattern can be broken up to form a rally
Meanwhile price should overcome three major resistances:
- 6800, as stated above
- 7175, Ichimoku Kijun-sen
- 7750, a recent resistance
I should clearly state that this is probably going to be a counter-trend movement. If you're looking signs for a bull market, consistency above 9000 is your level.
Place your Stop Loss @6050 and don't risk more than 25% of your total capital.
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