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Interesting occasion on Bitcoin: despite the overall trend is still Down, we see the strong decline suspension pattern on H4.
* Long counter-trend opportunity is observed on H4 Chart in a Scalping Mode.
* H4 candles have formed up a decline stoppage pattern with increased Volume on H4 tails.
* At the same time, the Bears are one who still keep control over the market, so every counter-trend trade should be backed up by a tight Stop-loss order.
* As we projected: the two locations were optimal to enter Short for a downtrend continuation. However, with an update on H4 candles, we see that the price may spike at $7,700 - $7,800 area before dropping down again.
* RSI is totally oversold, while MACD changes over the positive territory.
Active trade signal
Buy @ $7,470.
Target: $7,700 - $7,800.
Stop-loss: $7,370.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Interesting occasion on Bitcoin: despite the overall trend is still Down, we see the strong decline suspension pattern on H4.
* Long counter-trend opportunity is observed on H4 Chart in a Scalping Mode.
* H4 candles have formed up a decline stoppage pattern with increased Volume on H4 tails.
* At the same time, the Bears are one who still keep control over the market, so every counter-trend trade should be backed up by a tight Stop-loss order.
* As we projected: the two locations were optimal to enter Short for a downtrend continuation. However, with an update on H4 candles, we see that the price may spike at $7,700 - $7,800 area before dropping down again.
* RSI is totally oversold, while MACD changes over the positive territory.
Active trade signal
Buy @ $7,470.
Target: $7,700 - $7,800.
Stop-loss: $7,370.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
