Bitcoin: The Perfect Bullish Structure
How should the perfect bullish structure look like?
The price bounces from 12 000USD resistance zone and moves downward to 10 000USD support zone. This support zone includes SMA50 and SMA100 as well. The price action at this support zone gives us a good buying opportunity based on a reversal signal. We open long positions with stop orders below SMA100 and profit targets at 12 000USD and 14 000USD. The buyers push the price upward with new power.
How will it be in reality? Nobody knows exactly. The price can break 12 000USD resistance and continue the upward movement without a deep correction. It will be against the logic, bearish signals from indicators, and FA point of view. But we could see such behavior of the main crypto coin many times in the past. If it is like this again, Bitcoin will push overbought altcoins without pullbacks, and we won't have good entry points for new long positions.
So, if you have opportunities to dump Bitcoin, you should do it right now. You will provide a lot of amazing opportunities for many traders who trade Bitcoin and Altcoins
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price bounces from 12 000USD resistance zone and moves downward to 10 000USD support zone. This support zone includes SMA50 and SMA100 as well. The price action at this support zone gives us a good buying opportunity based on a reversal signal. We open long positions with stop orders below SMA100 and profit targets at 12 000USD and 14 000USD. The buyers push the price upward with new power.
How will it be in reality? Nobody knows exactly. The price can break 12 000USD resistance and continue the upward movement without a deep correction. It will be against the logic, bearish signals from indicators, and FA point of view. But we could see such behavior of the main crypto coin many times in the past. If it is like this again, Bitcoin will push overbought altcoins without pullbacks, and we won't have good entry points for new long positions.
So, if you have opportunities to dump Bitcoin, you should do it right now. You will provide a lot of amazing opportunities for many traders who trade Bitcoin and Altcoins
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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