BTC LONG

12 сент. 2022 г.

BTCUSD ended pervious week with a double bottom on the weekly time frame (trend reversal signal) slightly below the 200MA, this is important because in the history of Bitcoin it has never traded below the 200MA on the weekly time frame and stayed below it ever.
This will be the bedrock of the coming week as Bulls anticipate for bitcoin to quickly go back above the 200MA and by doing so break the neckline of the double bottom.

Trade confluence for the time frame(4hr):
1.Break out and Retest of previous structure.
2. 20MA crossing the 200MA
3. Support on the 200MA
4. Elephant candle to the upside