Bitcoin New Buy Signal

The price bounces from the support zone formed by SMA100 and support levels. RSI confirms price reversal in the oversold zone. MACD histogram supports upward movement. DMI allows opening long trades. We have a new buy opportunity. Pending orders can be placed above the high of the signal candle at 17650.00 level. Stop orders must be at 15400.00 level. Profit targets are 20000.00 and 21000.00 levels. The part of trade volume can be left for long run.

Bình luận:

Use small volume for this trade. The market still can drop lower and even find support at 10000.00 level. But we have to use any buy opportunity for catching fast reversal with further strong upward movement. These trades are with high risk. Don't forget about proper risk management!

Bình luận:

Watch for the price action at the support zone formed by SMA100, 16000.00-15600.00 levels. This zone is very important now. On the one hand, this zone is rather solid for reversal the market. It can be a good starting point for a new upward movement. But on the other hand, the market can drop to 13000.00 and even 10000.00 levels. The daily chart shows that the market has a free space for such falling. That's why we should be careful with our long positions. Using stop orders is strongly recommended.