Buy Bitcoin at support. Likely strong divergence!

Here we can see bitcoin has now retraced all the way back inside the green support box. Daily moving averages are really bullish and i'm looking to buy bitcoin somewhere here but where?

Well if we take a look at the hourly charts at the moment

we can see a long legged doji reversal candle bouncing right of support. This triggered my long entry, what I like about this is how we also have some nice divergences on the stochastic, and probably the MACDH and RSI. Lets see what the next hour brings.

We are currently inside what seems to be a new bull flag and this could be a great buying opportunity here. First target red resistance line on the hourly charts.

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Bình luận:

Here we can see the next candle hourly close which confirms the divergence. Now its safe to place a stop below the hourly long legged doji and see how far Bitcoin can rip to the upside. Strong divergence like this often result in big moves and this represents a great buying opportunity.

Đóng lệnh: dừng lỗ:

Here we saw a nice move up to take some profits before the weekend, really the move was very weak though when the indicators were strong. This generally means that something may be fundamentally changing underneath the market, which could be bad news for Bitcoin. I'm out flat and will see what develops.

Đóng lệnh: đạt mục tiêu:

After waiting a little we saw the expected move to 16k as per earlier post. Ive taken profits now and will wait for a decent pullback before re-entry