Immediate SHORT opportunity on BTC as pullback is expected...
Bitcoin's price today is at $38k level, with a 24-hour price decrease of -1.84%.
As predicted, price is headed to test 40k resistance level , with already 4 out of 5 targets reached since the LONG signal (please view the related idea). MACD crossover, indicating a strong bullish pattern while moving averages are flattening, suggesting a pause of the downtrend momentum. Traders who have bought at the stated entry price (please check related idea from one of our interns) could benefit 31% gains!
Even if in the long run our expectations are bullish , an immediate opportunity has been spotted! Daily or swing traders may partially disinvest from the long position & go short !
On 4h chart in fact, RSI index is strongly overbought and there has been already a volume confirmation, all those being signs of a possible pullback up to 32k area. Daily chart is not overbought yet, so I expect the price to rise over 38.5k level before the the pullback occurs.
ENTRY PRICE: > $ 38.4 k
TARGET: $34k / 33k / 32 k
STOPLOSS: $39.4k
Historically, whenever the price had a rally from the bottom of the Keltner channel to the upside, an immediate pullback occurred to the lower side of the channel.
We expect the asset to consolidate then in 32k - 36k range, before going up to 40k in mid August as predicted. In fact, BITMEX funding index shoes negative rates since May, suggesting longs are paying shorts. Historically, whenever a long series of negative funding rates occurred, a bullish breakout happened.
Stay tuned for more ideas and please follow us on Twitter as well.
As predicted, price is headed to test 40k resistance level , with already 4 out of 5 targets reached since the LONG signal (please view the related idea). MACD crossover, indicating a strong bullish pattern while moving averages are flattening, suggesting a pause of the downtrend momentum. Traders who have bought at the stated entry price (please check related idea from one of our interns) could benefit 31% gains!
Even if in the long run our expectations are bullish , an immediate opportunity has been spotted! Daily or swing traders may partially disinvest from the long position & go short !
On 4h chart in fact, RSI index is strongly overbought and there has been already a volume confirmation, all those being signs of a possible pullback up to 32k area. Daily chart is not overbought yet, so I expect the price to rise over 38.5k level before the the pullback occurs.
ENTRY PRICE: > $ 38.4 k
TARGET: $34k / 33k / 32 k
STOPLOSS: $39.4k
Historically, whenever the price had a rally from the bottom of the Keltner channel to the upside, an immediate pullback occurred to the lower side of the channel.
We expect the asset to consolidate then in 32k - 36k range, before going up to 40k in mid August as predicted. In fact, BITMEX funding index shoes negative rates since May, suggesting longs are paying shorts. Historically, whenever a long series of negative funding rates occurred, a bullish breakout happened.
Stay tuned for more ideas and please follow us on Twitter as well.
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