Trading plan: BTCUSD (Bitcoin)
Bitcoin rate has grown slowly, and will soon reach our target of $ 7800.
What do we see on the basis of the technical analysis of Bitcoin rate?
1. The daily analysis of the BTCUSD chart shows the breakthrough of the resistance line of the falling channel.
2. The closest resistance levels of Bitcoin are: $ 8080, $ 7800.
3. The closest support levels for Bitcoin are: $ 7200, $ 7060.
What conclusions can we draw?
1. With greater probability, the Bitcoin rate will fall down from the resistance zone: $ 8080 - $ 7800.
2. We intend to buy Bitcoin near the zone: $ 7020 - $ 7060, and sell: $ 8080 - $ 7800.
3. We'll have to wait a couple of days for the best price to enter, so we take a wait-and-see tactic.
Priority of the day: neutral position on BTCUSD.
We recommend to those who bought Bitcoin with us to think about fixing profits. To all the rest we advise waiting for the appearance of bears on the cryptomarket. In addition, the influx of new buyers Bitcoin has not yet been observed, the capitalization of the market has reduced the rate of its growth.
Projected scenarios:
1. The rate of BTCUSD will grow from $ 7600 to $ 7800.
2. Bitcoin rate will enter the lateral movement for several days.
An alternative scenario:
Not a very pleasant, but possible scenario - the Bitcoin rate will not reach $ 7800, and it will fall from $ 7600 to $ 7400.
What do we see on the basis of the technical analysis of Bitcoin rate?
1. The daily analysis of the BTCUSD chart shows the breakthrough of the resistance line of the falling channel.
2. The closest resistance levels of Bitcoin are: $ 8080, $ 7800.
3. The closest support levels for Bitcoin are: $ 7200, $ 7060.
What conclusions can we draw?
1. With greater probability, the Bitcoin rate will fall down from the resistance zone: $ 8080 - $ 7800.
2. We intend to buy Bitcoin near the zone: $ 7020 - $ 7060, and sell: $ 8080 - $ 7800.
3. We'll have to wait a couple of days for the best price to enter, so we take a wait-and-see tactic.
Priority of the day: neutral position on BTCUSD.
We recommend to those who bought Bitcoin with us to think about fixing profits. To all the rest we advise waiting for the appearance of bears on the cryptomarket. In addition, the influx of new buyers Bitcoin has not yet been observed, the capitalization of the market has reduced the rate of its growth.
Projected scenarios:
1. The rate of BTCUSD will grow from $ 7600 to $ 7800.
2. Bitcoin rate will enter the lateral movement for several days.
An alternative scenario:
Not a very pleasant, but possible scenario - the Bitcoin rate will not reach $ 7800, and it will fall from $ 7600 to $ 7400.
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