BTCUSD is currently forming an inverse head and shoulders and is currently supported by the 50 and 100 Days Exponential Moving Average (EMA).
The 1st support that i have identified is the horizontal overlap support at 3572.
RSI is also approaching it's ascending support line, which gives me the confidence that an imminent bullish rise will occur.
I believe when markets resume tmr, we will see a bullish reversal on BTCUSD as people may use BTCUSD to hedge against the stock market.
Personally I wouldn't recommend a short now given the limited downside it offers, thus going long makes the most sense.
If you agree with my idea, please like it.
Merry Christmas and hope we have a lovely end to 2018! :)
The 1st support that i have identified is the horizontal overlap support at 3572.
RSI is also approaching it's ascending support line, which gives me the confidence that an imminent bullish rise will occur.
I believe when markets resume tmr, we will see a bullish reversal on BTCUSD as people may use BTCUSD to hedge against the stock market.
Personally I wouldn't recommend a short now given the limited downside it offers, thus going long makes the most sense.
If you agree with my idea, please like it.
Merry Christmas and hope we have a lovely end to 2018! :)