Bitcoin - $10000 Psychological Level Can Be Reached Soon
Hello Traders,
I hope everybody is doing great.
Like I explained in my last post about the inverse head and shoulders pattern and the potential target, we can see that it is playing out very nicely. You can have a look here -->
The target is still in progress. I am expecting Bitcoin to reach the $10000 psychological level before a significant pullback should occur. Furthermore, at the level of around 9865.5 areas, the important 200 daily moving average could act as a resistance, allowing a bitcoin to do a pullback. Anyhow, I am expecting another push higher. But like always short-term pullbacks can occur and should be considered.
I personally bought the break out at around 8511.2 with an initial stop below 7726.5 and my target is at around $10000 area. After the breakout, the inverse head and shoulders pattern got confirmed and therefore I initiated my trade. Let’s see if we can see my target. (Update: My stop is now at breakeven)
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view. Bitcoin -
I hope everybody is doing great.
Like I explained in my last post about the inverse head and shoulders pattern and the potential target, we can see that it is playing out very nicely. You can have a look here -->
The target is still in progress. I am expecting Bitcoin to reach the $10000 psychological level before a significant pullback should occur. Furthermore, at the level of around 9865.5 areas, the important 200 daily moving average could act as a resistance, allowing a bitcoin to do a pullback. Anyhow, I am expecting another push higher. But like always short-term pullbacks can occur and should be considered.
I personally bought the break out at around 8511.2 with an initial stop below 7726.5 and my target is at around $10000 area. After the breakout, the inverse head and shoulders pattern got confirmed and therefore I initiated my trade. Let’s see if we can see my target. (Update: My stop is now at breakeven)
Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view. Bitcoin -
Trade stängt manuellt:
Like I said yesterday that I was looking at a pullback at the 200 day moving average. This pullback is currently taking place. I closed my position and took some profit. As the pullback can go as deep as my entry level to retest the inverse head and shoulders neckline.
Kommentera:
Bouncing nicely to the upside like forecasted.
