alanmasters

Change Of Direction, Bitcoin Aims At $6720 / $8260 Next

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD ( Bitcoin ) managed to close above EMA50 ($5885) and is now gaining momentum while climbing higher.
The next resistance we are looking at is EMA100 at $6720.

We also have the ascending triangle bullish pattern .
If EMA100 can be conquered with good strength and volume , we aim at MA200 or $8260 next!

Conditions for change
If momentum is lost and prices move back down, closing below EMA10 ($5630) would send out a bearish signal. If prices close below $5400 the whole setup is invalidated.

What do you think will happen next?

Thanks a lot for reading.

Comments section below!

Namaste.
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Comments

How can we trust your analysis when you flip flop from bearish to bullish in a couple days?
+2 Reply
alanmasters tonygun72
@tonygun72, Use it as an extra tool to supplement what you are already doing.

If you want to trust the analysis, you can read it... Everything is always explained in the description.

Thanks a lot for the support.

Namaste.
Reply
Alohalex tonygun72
@tonygun72, With new data coming everyday it is expected to change your biass frenquently , don't get married to a trade. It is actually a good sign to see trader being able to switch point of view, anything can happen.
+1 Reply
GalLukas Alohalex
@Alohalex,
Agree.
Reply
SMT_Crypto tonygun72
@tonygun72, you go with the trend, lol traders don't care about the stock we look to make money weekly. i really dont care if BTC goes to 1k or 100k i will make money in both directions.
+2 Reply
PeePla SMT_Crypto
@SMT_Crypto, Good mind set
Reply
chuan9088 SMT_Crypto
@SMT_Crypto, how?
Reply
Great ,very Perfect
Reply
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