Hello Traders,
After the huge recovery from yesterday, Bitcoin is currently contesting downward trend line (purple line), red-line resistance, as well as EMA 50 resistance.
Similar situation actually happened on March 12, 2018, and I expect it to fail this time around.
Most likely scenario is that Bitcoin will pull back to $8150-$8200 (EMA20) first to find its support, and try to break these resistances.
Here is my trading strategy for mid-term:
Buy $8150
1) Sell 25% at $8500
2) Sell 50% at $9200
3) Sell 100% at $9600
Happy Trading!
After the huge recovery from yesterday, Bitcoin is currently contesting downward trend line (purple line), red-line resistance, as well as EMA 50 resistance.
Similar situation actually happened on March 12, 2018, and I expect it to fail this time around.
Most likely scenario is that Bitcoin will pull back to $8150-$8200 (EMA20) first to find its support, and try to break these resistances.
Here is my trading strategy for mid-term:
Buy $8150
1) Sell 25% at $8500
2) Sell 50% at $9200
3) Sell 100% at $9600
Happy Trading!