After all this downtrend on BTC especially because of the ETF delay, we can finally see some bullish moves.
One of the big indicators imo is the shorts going parabolic last couple of hours/days.
Everyone bearish makes me think that we are getting a big squeeze like in 12 april 2018.
Daily closed bullish to me so i took a long position around $6110. So far things are looking good!
We had a pullback around the blue box (which is healthy) and imo that would be a good long entry if you missed the break out.
RSI also bounced from the 50 points for a continuation for this uptrend.
Let's see if we can break this $6500 R.
If it is really a short squeeze i would expect a $500 to $1000 move.
This is not financial advice
One of the big indicators imo is the shorts going parabolic last couple of hours/days.
Everyone bearish makes me think that we are getting a big squeeze like in 12 april 2018.
Daily closed bullish to me so i took a long position around $6110. So far things are looking good!
We had a pullback around the blue box (which is healthy) and imo that would be a good long entry if you missed the break out.
RSI also bounced from the 50 points for a continuation for this uptrend.
Let's see if we can break this $6500 R.
If it is really a short squeeze i would expect a $500 to $1000 move.
This is not financial advice
Comment:
Took profit around $6500. Now just sitting and watching before i take another position. BTC looks weak at the moment. We don't want to trade and close under $6180. otherwhise we could expect lower lows.