BTC UPDATE! MA200, Log Scale
Hi, guys!
BTC has a strong run during the last two weeks.
We are almost 3000 from the entry point and this is a great gain!
8500 was rejected, but I expect it to be tested again. Price is right under the MA200 (8500 atm)and breaking it not going to be easy.
If we breaking 8500 in next couple of days - we should see 9350 eventually, and if FOMO will be strong enough, then all the way to 11600.
It's very important to close the next daily candle higher than previous in order to see a continuation of the uptrend in near future. On the chart the two scenarios that I see as the most possible atm.
If it will be rejected, then we most likely going to slide along the white line that was a resistance, and after sliding lower than the previous bottom may see an almost vertical selloff to 3800-4300 range where is the mean line.
Let's be optimistic but sober and cold. Watch it very close now, use the strict risk management and SL is the must. I took the profit at 8400 and 8200 and atm have SL at 7760.
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
BTC has a strong run during the last two weeks.
We are almost 3000 from the entry point and this is a great gain!
8500 was rejected, but I expect it to be tested again. Price is right under the MA200 (8500 atm)and breaking it not going to be easy.
If we breaking 8500 in next couple of days - we should see 9350 eventually, and if FOMO will be strong enough, then all the way to 11600.
It's very important to close the next daily candle higher than previous in order to see a continuation of the uptrend in near future. On the chart the two scenarios that I see as the most possible atm.
If it will be rejected, then we most likely going to slide along the white line that was a resistance, and after sliding lower than the previous bottom may see an almost vertical selloff to 3800-4300 range where is the mean line.
Let's be optimistic but sober and cold. Watch it very close now, use the strict risk management and SL is the must. I took the profit at 8400 and 8200 and atm have SL at 7760.
//This information is not a recommendation to buy or sell. It is to be used for educational purposes only//
Aviso legal
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