Bitcoin breakout trade - buy on 1H - target 28K
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Dear traders and followers,
welcome to today's Bitcoin market update!
The Bitcoin price has formed a triangle pattern ( double bottom confirmation within this pattern) and seems to break out within the next 12-24 hours.
The market retraced two times from 38.2 Fibonacci line which indicates a strong up trend. Expect market at least testing last high at 28100 $
- Volume indicators ( MACD and TTM Squeeze) showing decreasing sell volume and more buyers incoming.
- MACD baselines going to cross bullish which is a buy indicator
- RSI started up movement before entering the heavy oversold area --> more buyers than sellers entering the market
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welcome to today's Bitcoin market update!
The Bitcoin price has formed a triangle pattern ( double bottom confirmation within this pattern) and seems to break out within the next 12-24 hours.
The market retraced two times from 38.2 Fibonacci line which indicates a strong up trend. Expect market at least testing last high at 28100 $
- Volume indicators ( MACD and TTM Squeeze) showing decreasing sell volume and more buyers incoming.
- MACD baselines going to cross bullish which is a buy indicator
- RSI started up movement before entering the heavy oversold area --> more buyers than sellers entering the market
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/ don't miss new ideas
Thanks for your support!
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The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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