Hi, Traders ! Monfex is at your service !
Please find below our multi-chart (1D/1H) update on Bitcoin's price dynamic.
* Bitcoin's market forces have found a solid equilibrium around an important $9,300 level.
* The price resides at the key point of determination: either the Bulls will push it off $9,300 and sweep it up to the mid-term target of $12,000 or the Bears will force it down to the nearest Support at $8,500 - $8,600.
* In any of the presented scenario, we should watch for the price action (instant momentum), accompanied by (increased) Volume in either direction. Only after that, we could enter a trade on a break-out of the nearest (minor) S/R levels.
* Both indicators, RSI & MACD, currently reside in a Neutral position.
General trade guideline
Buy if breaks-out above $9,600.
Sell if breaks-out below $9,200.
Buy Target: $10,500 (Nearest) / $12,000 (Mid-term).
Sell Target: $8,500 - $8,600.
Stop-loss: 200 b.p.
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.
Please find below our multi-chart (1D/1H) update on Bitcoin's price dynamic.
* Bitcoin's market forces have found a solid equilibrium around an important $9,300 level.
* The price resides at the key point of determination: either the Bulls will push it off $9,300 and sweep it up to the mid-term target of $12,000 or the Bears will force it down to the nearest Support at $8,500 - $8,600.
* In any of the presented scenario, we should watch for the price action (instant momentum), accompanied by (increased) Volume in either direction. Only after that, we could enter a trade on a break-out of the nearest (minor) S/R levels.
* Both indicators, RSI & MACD, currently reside in a Neutral position.
General trade guideline
Buy if breaks-out above $9,600.
Sell if breaks-out below $9,200.
Buy Target: $10,500 (Nearest) / $12,000 (Mid-term).
Sell Target: $8,500 - $8,600.
Stop-loss: 200 b.p.
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.
