How to identify bullish breakout in BTC
In the past week there are lots of signal where BTC will be bullish in near future.
1. BTC break up the triangle with high volume green candle (1st potential entry)
2. Test all time high at $17250, rejected but bounce back at 20ema with strong green candle, then break $17250 resistance (2nd potential entry)
3. Can be analysed that there are support and resistance with about $600-$650 price range, so it is already expected that price will face resistance about $17900 and will have some pullback.
4. Price then rebound not just at 20ema but also at $17250 (resistance to support), this is the strongest and safest entry (3rd potential entry)
5. expect for price to face some resistance around $18500 but break straightout, showing lot of bullish momentum
As you can see, there all alot of signals for bull entry with just simple technical analysis. The 1st and 2nd potential entry are for very aggressive traders. There are not many reasons to short BTC for now as odds favor the bulls in TA
1. BTC break up the triangle with high volume green candle (1st potential entry)
2. Test all time high at $17250, rejected but bounce back at 20ema with strong green candle, then break $17250 resistance (2nd potential entry)
3. Can be analysed that there are support and resistance with about $600-$650 price range, so it is already expected that price will face resistance about $17900 and will have some pullback.
4. Price then rebound not just at 20ema but also at $17250 (resistance to support), this is the strongest and safest entry (3rd potential entry)
5. expect for price to face some resistance around $18500 but break straightout, showing lot of bullish momentum
As you can see, there all alot of signals for bull entry with just simple technical analysis. The 1st and 2nd potential entry are for very aggressive traders. There are not many reasons to short BTC for now as odds favor the bulls in TA
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