We must be careful with any trades. Even the market is at the possible bottom, the price can drop lower. The current levels can be used for opening long positions but if the price breaks 6500.00 support, 6000.00 and 5000.00 levels will be good for adding more to the long positions. It’s just a variant how to invest properly and have opportunity to get good profit. If you want to know when we can consider that the market moves in the , we have to wait when the price breaks the previous swing high. Now we have the new swing low which is higher than the previous one, and when the price moves above 7500.00 level, the new swing higher high will be formed and the uptrend will be confirmed.
Opening long positions don’t forget about stop orders which should be placed below the support levels and swing lows. Profit targets should be at round numbers like 8000.00, 9000.00 and 10000.00 levels. As the market is at the possible bottom, the buy trades can be opened for long term with targets at 12000.00, 15000.00 and 20000.00 levels.
Now we should wait for the confirmation from the daily time frame.
Free Forex Signals: https://www.fxluxus.com
The Best Forex Broker for EAs: https://goo.gl/dsiQN8
In this case: ATH short positions open - low volume on BTC trading - professional operators see an opportunity to drive price up in order to sell at a good profit by triggering short sellers stop losses. So they drive price up by buying up orders from say $6900 - $7100, which is easy with low volume - stop losses trigger which market buys BTC - price goes up - triggers more stop losses and liquidations - price goes up..... and so on and so forth. Professional operators start selling at a substantial profit and probably open some shorts at around $8k.