Bitcoin: Possible Buy Signal

2020年8月11日

In spite of bearish signals from higher timeframes, I would like to share with you a possible long trade. It is based on an idea that the price reverses from SMA200 and moves up in the direction of the main trend. The main goal for buyers will be 12 000USD resistance.

It will be better to use a breakout signal above the local downtrend line as an additional bullish signal. The estimated entry point can be above 11 650USD. The stop orders should be placed below 11 500USD support.

If the price breaks 11 500USD support, the buying opportunity should be changed to a new trading idea.



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.

2020年8月11日

註釋

The price broke SMA200 but 11 500USD can stop the sellers. It will be possible to use a false breakout for buying.

2020年8月11日

註釋

Here is an example of a new long position