BITCOIN [$BTC] 11 MAY 2020

BTCUSD

Pivot Point: (65 day EMA) $7888.43

The long-term trend is considered up when BTC/USD is above the 65 day EMA

Our view: Long positions above (65 day EMA) $7888.43 

Comment: BTC/USD remains Bullish above the $7888.43 level—Buy on a pullback into the value zone (area between the 13 & 26 day EMA)

Stop-loss: (26 day EMA) $8371.82

Alternative scenario: Below $7888.43 BTC/USD becomes Bearish, expect further downside to lower levels  

Trading Methodology: Triple Screen Trading System by Dr. Alexander Elder (Pullback Trading Strategy)