Hello everyone!
# Today's topic will be Bitcoin and for sure the beautiful opportunity that is given to us.
As we can see Bitcoin broke the trend line and is trying to fly above the Pivot Point.
Signs that I'm bullish:
# Technical part :
1. Broke the trendline with a strong momentum of 844M Volume, the buyers took the profits out and they're looking for more opportunity, as we
can see the sellers are too weak to push the price down because there is no momentum of sellers.
2. The Pivot Point is perfectly aligning with the 0.382 Fibonacci level which they're acting both as support for the price to retest and go for a run
again.
3. The price is closed above the 20,50 MA and is trying to reach the 200 MA which is near the 9200 price exactly at my R3 aligned with the -1.618
Fibonacci level which to be honest I myself call this perfection.
4. RSI is above 50% and this shows strength in price.
# From the sentimental part :
1. The Commitments of Traders report came out 01/10/2019.
2. Most of hedge funds and insitutional traders are going long on Bitcoin.
# Targets :
1. My main target is only the 9200 region which is giving me a positive sign.
# Reminder:
Wait until price retest the PP and reject that zone, wait for a strong confirmation that is related with candlestick pattern, big volume.
**The information disclosed here is for entertainment purposes only; it does not constitute investment advice. It cannot replace professional
investment advice**
# Today's topic will be Bitcoin and for sure the beautiful opportunity that is given to us.
As we can see Bitcoin broke the trend line and is trying to fly above the Pivot Point.
Signs that I'm bullish:
# Technical part :
1. Broke the trendline with a strong momentum of 844M Volume, the buyers took the profits out and they're looking for more opportunity, as we
can see the sellers are too weak to push the price down because there is no momentum of sellers.
2. The Pivot Point is perfectly aligning with the 0.382 Fibonacci level which they're acting both as support for the price to retest and go for a run
again.
3. The price is closed above the 20,50 MA and is trying to reach the 200 MA which is near the 9200 price exactly at my R3 aligned with the -1.618
Fibonacci level which to be honest I myself call this perfection.
4. RSI is above 50% and this shows strength in price.
# From the sentimental part :
1. The Commitments of Traders report came out 01/10/2019.
2. Most of hedge funds and insitutional traders are going long on Bitcoin.
# Targets :
1. My main target is only the 9200 region which is giving me a positive sign.
# Reminder:
Wait until price retest the PP and reject that zone, wait for a strong confirmation that is related with candlestick pattern, big volume.
**The information disclosed here is for entertainment purposes only; it does not constitute investment advice. It cannot replace professional
investment advice**
Trade active
Trade closed: stop reached