Trading plan: BTCUSD (Bitcoin)
The Bitcoin rate slowed its growth, as we expected. Right now the bulls are still in force: the blue and red circles on the chart show the maximum prices for a period of time. And right now the maximum prices of Bitcoin are in the upward movement. Therefore, it's too early to sell Bitcoin.
What are we waiting for?
1. The breakthrough of Bitcoin rate at $ 7600 from the top down, to $ 7550. It is desirable that bears show their strength on a large volume of sales.
2. Further, we will wait for the last initiative of the bulls, so that Bitcoin's rate goes up, to $ 7700 - $ 7800.
3. And only after that, near the $7600 zone, we will search for an entry point for the sale of Bitcoin with a target of $7400.
Priority of the day: neutral position on BTCUSD.
According to our estimates, Bitcoin rate should, before going down, stand for a while in the flat: a balance of forces between buyers and sellers is expected.
Projected scenarios:
1. BTCUSD rate will be in flat.
2. Bitcoin rate will immediately fall to $ 7400, without a long pause.
Alternative scenario:
Since the movement of the bulls has not yet ended, the last attempts of buyers to raise the Bitcoin rate from $ 7700 to $ 8000 are possible. That's why we are not in a hurry to immediately sell Bitcoin, but we are waiting for confirmation of the strength of the bears.
What are we waiting for?
1. The breakthrough of Bitcoin rate at $ 7600 from the top down, to $ 7550. It is desirable that bears show their strength on a large volume of sales.
2. Further, we will wait for the last initiative of the bulls, so that Bitcoin's rate goes up, to $ 7700 - $ 7800.
3. And only after that, near the $7600 zone, we will search for an entry point for the sale of Bitcoin with a target of $7400.
Priority of the day: neutral position on BTCUSD.
According to our estimates, Bitcoin rate should, before going down, stand for a while in the flat: a balance of forces between buyers and sellers is expected.
Projected scenarios:
1. BTCUSD rate will be in flat.
2. Bitcoin rate will immediately fall to $ 7400, without a long pause.
Alternative scenario:
Since the movement of the bulls has not yet ended, the last attempts of buyers to raise the Bitcoin rate from $ 7700 to $ 8000 are possible. That's why we are not in a hurry to immediately sell Bitcoin, but we are waiting for confirmation of the strength of the bears.
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