Greetings traders! So, continuing from my last analysis, bitcoin did what was supposed to do. If you like faster trades, that harami just above the purple trendline already gave you a good profit today, that was an easy trade with a nice risk/gain relationship. Feel free to check my previous analysis, if you missed it.
A bullish harami is a bullish reversal signal, and works almost randomly in normal circumstances, 53% of the time, accordingly to Bulkowski studies. But if a harami appears just near the 21 ema, and near a trendline, the odds increase, and the reversal is more likely.
I still believe BTC can go up, but it would be nice if today’s candle close above U$ 7306. Although, it wouldn’t surprise me if we see a correction, because the hourly chart is too strained, and we are near the 21 ema in the weekly chart.
The optimal target here is U$ 9.2k (light blue line), but that’s going to take a while, and the swing trader should be patient.
If you are out, now it’s not time to buy, but it’s not time to go short either (after all it is a bullish trend). Just be patient and wait for some correction.
That’s my opinion, I hope it helped.
A bullish harami is a bullish reversal signal, and works almost randomly in normal circumstances, 53% of the time, accordingly to Bulkowski studies. But if a harami appears just near the 21 ema, and near a trendline, the odds increase, and the reversal is more likely.
I still believe BTC can go up, but it would be nice if today’s candle close above U$ 7306. Although, it wouldn’t surprise me if we see a correction, because the hourly chart is too strained, and we are near the 21 ema in the weekly chart.
The optimal target here is U$ 9.2k (light blue line), but that’s going to take a while, and the swing trader should be patient.
If you are out, now it’s not time to buy, but it’s not time to go short either (after all it is a bullish trend). Just be patient and wait for some correction.
That’s my opinion, I hope it helped.
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👉 Join the 5%: thefinancehydra.com/
💲💲 Project 5%: + 104%
🔹 S&P500: +35%
💪 Public track record.