Bitcoin (BTC/USD): Morning Analysis, 2018 Last Fake Out?
Daily
Looking at our highest timeframe wee price has remained above $8,300, Although this is not a major support, price seems to be holding and Stochastic RSI showing momentum is heading towards the upside. Only adding more confidence to my analysis that our drop from $9,000 to $8,300 was due to UpBit (South Korea Most Popular Exchange) being raided by the police for fraud. A daily close above $8,700 activates our trade.
4Hour
Shifting over to our pattern timeframe we see price has returned breakout support @ $8,300. A 4hour close above $8,500 activates our first trade. Stochastic RSI showing momentum is bullish. Next resistance target $9,300.
Hourly
Finally looking at our trigger timeframe we price forming a double bottom inside our major support zone. Price has broke through our minor resistance @ $8,500 and closed above this level. Next entry is an hourly close above $8,700. Stochastic RSI showing momentum is bullish.
Conclusion
- Buy: After break and close above $8.700
- Sell: NOOOOO
Comment Down below what coin you want me to do next! ;)
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.