BITCOIN: Moving in the Trading Channel
Volume has increased a little during the last few hours.
Market seems to move among the planned thresholds imposed by BITCOIN, between the two lines of the trading channel.
Currently seems that BITCOIN is completing a 4th wave correcting line after having risen consistently from 6700 to 6900 USD...
In my opinion we could expect a wave up, the 5th, bringing BITCOIN to 7100USD, touching the upper line and, from that point, perhaps an entry in shorts may be a good option.
So, decomposing the 5th wave we can expect the following:
From volume, right now we cannot be sure of an uptrend confirmation so, IMO, the best plan is to play within the trading channel.
Trade safely.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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by toofasteddie
Yo tengo abierta una orden para entrar en corto que esta a nada de ejecutarse, pero bastante light. El MACD y RSI diario tienen cara de querer pasar por encima del canal...
Estoy de acuerdo contigo en que deberia darse un rebote a la baja y/o correccion, pero empiezo a pensar que quizas en vez de darse en la parte alta del canal, se de para hacer un pull-back con la linea superior del canal despues de superarlo y ya como soporte.
that good information for trade and nice words
:-)
Agreed, volume is sketchy. Thanks for sharing.