Are you ready for the next ''Upside Wave'' on Bitcoin?
Bitcoin has been in a Dowtrend Channel for over 7 months now, retracing about 53% from the local top at 13 800$. Indicators are starting to show some bullish flip, support and oversold data. Is there a possibility of a breakout soon?
1. The Downtrend channel
After officialy retracing about 53% from the last top, we got rejected pretty hard at the bottom of the channel. Which means that there is still a big buy pressure coming in.
Everywhere we can see that people are getting ready to short the top of the channel, even though longs are on an All Time High right now! That's why i'm starting to feel that these shorts will become the fuel for our breakout.
2. Indicators
- Macd flipped bullish on the 3d timeframe and need some relief on the 1w timeframe, this shows me that an uptrend could be starting;
- Rsi got supported on 3d again around 28;
- Fear and Greed index still shows ''Extreme Fear'';
How i'm playing this:
Started too accumulate from 6 400 - 7 200
I have extra orders going to 5.8k
Sl is 5 200.
Tp1 is 13.2k
Tp2 is 25k
If you want to come and discuss feel free to click on the link below, you will re-directed to my group.
1. The Downtrend channel
After officialy retracing about 53% from the last top, we got rejected pretty hard at the bottom of the channel. Which means that there is still a big buy pressure coming in.
Everywhere we can see that people are getting ready to short the top of the channel, even though longs are on an All Time High right now! That's why i'm starting to feel that these shorts will become the fuel for our breakout.
2. Indicators
- Macd flipped bullish on the 3d timeframe and need some relief on the 1w timeframe, this shows me that an uptrend could be starting;
- Rsi got supported on 3d again around 28;
- Fear and Greed index still shows ''Extreme Fear'';
How i'm playing this:
Started too accumulate from 6 400 - 7 200
I have extra orders going to 5.8k
Sl is 5 200.
Tp1 is 13.2k
Tp2 is 25k
If you want to come and discuss feel free to click on the link below, you will re-directed to my group.
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