DLavrov

Bitcoin: New Uptrend and When to Buy

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BITFINEX:BTCUSD   比特币
When to buy Bitcoin in order to join an uptrend in time?

Any new trend starts from a trend reversal signals of the previous trend. After that, the trend reversal must be confirmed.

In order to catch a new trend, we can use these two signals. If we could have a bullish divergence in the 4H chart, it would be the 1st signal for buying. Now, we don't have such divergence, and it is better to focus on the signals confirming the trend reversal.

We have the resistance zone formed by the downtrend line, SMA100, and SMA200. If the price breaks this zone and moves higher, we won't be able to say that we have a bearish trend. We will get a trend reversal signal, and we will be able to use it for buying.
As the market can to give us a false breakout, we will have to use stop orders. They can be placed below 6500.00 or even below 6000.00 support levels.

What do you think about this idea? Will you buy based on the breakout above 7350.00-7500.00?

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