stewdamus

Bitcoin with a Breakout/ReTest Remains Bullish

Alış
stewdamus Güncellendi   
INDEX:BTCUSD   Bitcoin
Traders,

Two posts ago, I showed this bullish triangle. I expected one more drop down inside the triangle and I stated the price support would range between 28,300 and 28,800. We got our drop and we got our support. I remained bullish.

One post ago, I anticipated a breakout to the upside due to patterns remaining bullish. We got our breakout to the upside.

But now where are we at? Well, IMO and according to the charts, we are still positioned biased to the upside. Due to the credit rating downgrade in the U.S., markets are pulling back. Our only question is whether they will now turn bearish? Or, will they remain irrational and bullish. My bet is on the latter but we shall soon find out.

Bitcoin is pulling back with the markets to test the topside of previous resistance as support. If it holds, we'll continue up. If support fails and we drop below 28,500 ish, I will have to reassess the chart.

For now, this classic retest remains yet another bullish signal.

Best,
Stew
Yorum:

Cleaned up the chart a bit with only the most relevant and important (IMO) indicators reflected.

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Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.