Bitcoin bullish hammer signals upside move

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Bitcoin - Intraday - We look to Buy at 9600 (stop at 9200)

Afternoon dips were bought into and follow through bullish momentum resulted in the market moving higher. A bullish hammer has been posted as prices reject the lower levels. The medium term bias remains bearish. Although the bears are in control, the stalling negative momentum indicates a possible turnaround is possible. We look for a temporary move higher. Preferred trade is to buy on dips.

Our profit targets will be 10500 and 11000

Resistance: 10200 / 10500 / 11000
Support: 9600 / 9200 / 8750

Comment:

Buy trigger has been hit. We are long at 9600.

Trade active:

The move to 9600 triggered our long trade In the interest of money management, we look to move the stop to 9950. No profit has been taken

Trade closed: target reached:

Prices have continued the move higher and have reached our 1st target at 10500