BTCUSD On the MA50 (1d) again. Short term buy.

2023年10月11日

Bitcoin hit the MA50 (1d) today after 12 days.
For the short term the trend is neutral as this may be a Support but the MA200 (1d) is a Resistance, not allowing any candle closing over it.
From a fractal perspective, we may see a rebound similar to April 22nd.

Trading Plan:
1. Buy as long as the price is closing over the MA50 (1d).
2. Buy if the price closes a (1d) candle over the MA200 (1d).

Targets:
1. 27900 (under the 0.786 Fibonacci).
2. 30800 (Resistance 2).

Tips:
1. The price faced an incredibly strong Resistance Zone. It's not just the MA200 91d) but the Falling Resistance as well as the MA100 (1w) which is declining fast towards Resistance (1) and is the utmost Resistance level of the Bear Cycle. A closing above this range, sets Bitcoin on long term bullish track for good.

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Notes:
Past trading plan: