Quick update on the BTCUSD market for the short term. Some analysts will have you guys waiting till you are old and grey at unrealistic SHORT TERM targets.
We can see a lot more positive fundamental news coming out this weekend and the chart is reflecting that confidence.
We can see that there is a nice channel building and the RSI is ticking higher confirming, at least on the very near term, that the bulls are here.
We have some bullish candlestick formations within our channel and I would expect a break above the channel to gather some good bullish momentum.
I think the futures closed a lot higher than many expected and this has summoned some confidence back into the market.
We broke out of our immediate down trend but prices are still getting rejected by the 10 MA, which could mean a bit more see-saw action in the 10500 – 12200 zone.
Please note there is heavy resistance around 13k and we will wait for that level to break to confirm a bullish trend.
SCARED ABOUT GOING BELOW 10k?
Here is the deal, to all those fearing the drop to $7500, set up some low buy order in those zones, should btc fall below 10k (some miraculous disaster), short that sucker with leverage and buy back even more lower.
Just take care your shorts don't get rekt while we prepare to test 20k again. ;)
Feel free to come and hang out with real Crypto traders for free.
We can see a lot more positive fundamental news coming out this weekend and the chart is reflecting that confidence.
We can see that there is a nice channel building and the RSI is ticking higher confirming, at least on the very near term, that the bulls are here.
We have some bullish candlestick formations within our channel and I would expect a break above the channel to gather some good bullish momentum.
I think the futures closed a lot higher than many expected and this has summoned some confidence back into the market.
We broke out of our immediate down trend but prices are still getting rejected by the 10 MA, which could mean a bit more see-saw action in the 10500 – 12200 zone.
Please note there is heavy resistance around 13k and we will wait for that level to break to confirm a bullish trend.
SCARED ABOUT GOING BELOW 10k?
Here is the deal, to all those fearing the drop to $7500, set up some low buy order in those zones, should btc fall below 10k (some miraculous disaster), short that sucker with leverage and buy back even more lower.
Just take care your shorts don't get rekt while we prepare to test 20k again. ;)
Feel free to come and hang out with real Crypto traders for free.