Hello fellow traders,
In my analysis today we see an ascending triangle being shaped from the uptrend line and resistance zone of 9400$.
I am positive that its a good time for some nice profit .
This analysis is not based on the indicators .
(RSI indicator shows that we are closing at the overbought zone which indicates that its not a good time to buy,
MACD indicator doesn't show me something clearly.)
My recommendation today its based more on the upcoming Chinese new year( in 2 days) .
I believe that a good buy point would be after breaking ascending triangle ( 9500$-9600$)
We find resistance zones at 11,700$ , 12,200$ , 13,000$
Profit taking depends on your risk aversion.
THIS ANALYSIS IS BASED ON CHART PATTERN & UPCOMING CHINESE NEW YEAR (NOT INDICATORS)
I would suggest putting stop loss :) (trading news is tricky)
Every year 2-3 weeks before the Chinese New Year we go through some sell-off ( liquidity of investments for some traders).
My Thinking is that the investments which traders liquid these 2-3 weeks will go again into BTC in Chinese New Year.
I wish to everyone profitable trades.
In my analysis today we see an ascending triangle being shaped from the uptrend line and resistance zone of 9400$.
I am positive that its a good time for some nice profit .
This analysis is not based on the indicators .
(RSI indicator shows that we are closing at the overbought zone which indicates that its not a good time to buy,
MACD indicator doesn't show me something clearly.)
My recommendation today its based more on the upcoming Chinese new year( in 2 days) .
I believe that a good buy point would be after breaking ascending triangle ( 9500$-9600$)
We find resistance zones at 11,700$ , 12,200$ , 13,000$
Profit taking depends on your risk aversion.
THIS ANALYSIS IS BASED ON CHART PATTERN & UPCOMING CHINESE NEW YEAR (NOT INDICATORS)
I would suggest putting stop loss :) (trading news is tricky)
Every year 2-3 weeks before the Chinese New Year we go through some sell-off ( liquidity of investments for some traders).
My Thinking is that the investments which traders liquid these 2-3 weeks will go again into BTC in Chinese New Year.
I wish to everyone profitable trades.