Opportunity to go long with Bitcoin. Very short term (hours) is going down but long term (within a month) is going up, between $4000-5000. There will be several opportunities to enter a trade but wait for price pull backs and RSI at the bottom for better entries. Good luck!
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Possible bullish inverse head and shoulders formation ahead:
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Bullish signals: (1) Double bottom: 1-hour time frame, (2) breaking up wedge down: 15 minutes time frame
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Potential reverse head and shoulder pattern:
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Break out: Bullish
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Next price target:
Trade the channel if trend continues, keep an eye on trend reversals, and use wide stop losses
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Short-term Bullish flagging:
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Potential long entry point in circle. Look for confirmation of double bottom (bullish) around the green zone before entering trade. Confirm uptrend with volume and oversold RSI level. Always use trailing stop losses. GL!
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Almost getting https://there...https://www.tradingview.com/x/XXpeiF3t/
Nicel bullish candles, but keep an eye on reversal:
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Likely is going to do her second leg to jump up:
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Great. Getting volume, and crossing two Moving averages, and $4000:
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Nice! Now, set up your alerts from drops and use appropriate trailing stop loss levels. Watch for bullish pennants (bullish flags) to confirm continued uptrend:
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Two options for BTC: if the price breaks 3924 likely going to 3500 (Fibo level). Then up:
Long opportunity in the 10 minute short time frame:
jeremyalain
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How does one check and confirm that the RSI is on the "bottom"?
roosgart
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@jeremyalain, Technically, it is when RSI score is below 30 (a security/stock/coin is in oversold conditions and RSI is at the bottom). RSI above 70 score is considered an overbought condition. Example of RSI at (or close to) the the bottom: