Hello Traders,
As you can see in the chart, at this moment we have Bitcoin facing local resistance, everybody is opening short positions here, so very likely to see a breakout.
You can clearly see an RSI Bullish Divergence in the Chart, this is a very strong signal that usually tells the end of a trend.
If we see a weekly close over 18000$ there is high probability for Bitcoin to reach Major Resistance that is the Neckline of the Double Top pattern printed in the All Time High 30000$.
This level acts very often as a magnet and there is usually high probability for the price to reach it again.
So if we see a weekly close over 18000$ Buy Setup with stop loss at 16800$ and with targets 21000$ 25000$ and 30000$.
I you agree with me a boost is much appreciated and If you have questions or you want to share your feedback I will be glad to answer in the comments.
As you can see in the chart, at this moment we have Bitcoin facing local resistance, everybody is opening short positions here, so very likely to see a breakout.
You can clearly see an RSI Bullish Divergence in the Chart, this is a very strong signal that usually tells the end of a trend.
If we see a weekly close over 18000$ there is high probability for Bitcoin to reach Major Resistance that is the Neckline of the Double Top pattern printed in the All Time High 30000$.
This level acts very often as a magnet and there is usually high probability for the price to reach it again.
So if we see a weekly close over 18000$ Buy Setup with stop loss at 16800$ and with targets 21000$ 25000$ and 30000$.
I you agree with me a boost is much appreciated and If you have questions or you want to share your feedback I will be glad to answer in the comments.
Trade closed: target reached:
Price acting as initially planned.