Breakout Finally?
If we look at the fundamental side of things, Bitcoin has not improved much. The environment for cryptocurrencies has gotten much tougher with more regulatory oversight and governments being pro on the technology but not the coin itself.
Despite a neutral to negative outlook for bitcoin fundamentals, the technical analysis shows a differing view. We see a small breakout after some consolidation action and the MACD widening up together with the RSI moving higher over the past few days.
However, one must note that the volume is still relatively small.
Recommend entering a small trade first, and wait for bigger volume to pick up to confirm if it is a real breakout.
Risk Reward is around 2 and we are looking to add more position when volume increases.
Despite a neutral to negative outlook for bitcoin fundamentals, the technical analysis shows a differing view. We see a small breakout after some consolidation action and the MACD widening up together with the RSI moving higher over the past few days.
However, one must note that the volume is still relatively small.
Recommend entering a small trade first, and wait for bigger volume to pick up to confirm if it is a real breakout.
Risk Reward is around 2 and we are looking to add more position when volume increases.
Note
Volume picking up, lets see if there is a sustainable breakout.Note
Entered in another lot size trade. Breakout volume is good, big momentum but what comes up fast has a higher chance of a greater pullback. If you have not entered, can wait for another chance at around 7500 levels.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.