Here I have a few places where a nice long position could open up. Now not everything is always exact but here are a few to see when a good buying opportunity could happen.
1. A confirmed breakout of the channel to the upside (with volume and closed candles) is extremely bullish and could signal the bull run.
2. Bitcoin drops a bit to the downside to hit the bottom of the channel along with support at 5500. Not a bad buying spot knowing that 3100 was the bottom.
3. Bitcoin falls out of the channel and through 5500 could spell a buying opportunity at 4000. A buy here is only 900$ above the low of the bear market and a 80% drop from all time high.
4. Bitcoin falls lower to the point where the RSI becomes oversold which could be a great time to start buying.
5. The MACD starts to make a cross signaling a possible uptrend. Now with the MACD you may need another source to open a long I.E (support, confirmed uptrend, other indicator).
Just trying to make things simple when technical analysis can be confusing to some and have people second guessing sometimes. I FEEL that these indicators/instances could be safer buys at times when people feel lost looking at the BTC price. Always have a plan!
1. A confirmed breakout of the channel to the upside (with volume and closed candles) is extremely bullish and could signal the bull run.
2. Bitcoin drops a bit to the downside to hit the bottom of the channel along with support at 5500. Not a bad buying spot knowing that 3100 was the bottom.
3. Bitcoin falls out of the channel and through 5500 could spell a buying opportunity at 4000. A buy here is only 900$ above the low of the bear market and a 80% drop from all time high.
4. Bitcoin falls lower to the point where the RSI becomes oversold which could be a great time to start buying.
5. The MACD starts to make a cross signaling a possible uptrend. Now with the MACD you may need another source to open a long I.E (support, confirmed uptrend, other indicator).
Just trying to make things simple when technical analysis can be confusing to some and have people second guessing sometimes. I FEEL that these indicators/instances could be safer buys at times when people feel lost looking at the BTC price. Always have a plan!