Bitcoin: Strong Trend Continuation [+150% Potential]
Hi everyone,
I'm going to do quick update about the Bitcoin
Currently, We are in the Short-term Bearish Market.
Some factors for Long-term Pullish market:
Price Factors:
- The price still heading down to the strong Support Area (12270.72 - 13072.54). This area still holding and rejected the price to move down many times.
- The price showing some signs of rejection above the Support Area.
- The price is on top of Price Channel.
- Further, Take a look at the Green Box that I already spotted. This is the mini Range and price so close the bottom of the Range.
- Also in a potential Demand Area.
- The price in the bottom of Falling Wedge ( Reversal pattern ).
Indicator Factors:
- We're on top of Ichimoku Cloud.
- The price try to dip below the Base + Conversion line.
- Stoch RSI showing the down move bias but near the Oversold Area.
- MACD showing down move but may not last long.
Conclusion:
For me, this is a very potential area to take my position.
- Entry price: 12270 - 13072
- Target 1: 24536.46 - 25214.99 ( Also consider a New Time High )
- Target 2: 30851.65 - 32237.33
Happy Trading.
I'm going to do quick update about the Bitcoin
Currently, We are in the Short-term Bearish Market.
Some factors for Long-term Pullish market:
Price Factors:
- The price still heading down to the strong Support Area (12270.72 - 13072.54). This area still holding and rejected the price to move down many times.
- The price showing some signs of rejection above the Support Area.
- The price is on top of Price Channel.
- Further, Take a look at the Green Box that I already spotted. This is the mini Range and price so close the bottom of the Range.
- Also in a potential Demand Area.
- The price in the bottom of Falling Wedge ( Reversal pattern ).
Indicator Factors:
- We're on top of Ichimoku Cloud.
- The price try to dip below the Base + Conversion line.
- Stoch RSI showing the down move bias but near the Oversold Area.
- MACD showing down move but may not last long.
Conclusion:
For me, this is a very potential area to take my position.
- Entry price: 12270 - 13072
- Target 1: 24536.46 - 25214.99 ( Also consider a New Time High )
- Target 2: 30851.65 - 32237.33
Happy Trading.
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