The bull market trading strategy ep6
Hey everyone today id like to talk about the current BTC situation/price.
We had a very nice run from january 2019 pushing bitcoin from the lows 3k to the high 13k, This level is marked as the resistance of the previous BTC range (2018 bear market 6k-13k).
As we can see BTC is actually forming a consolidation phase / contraction of the price here at this level.
The probability to get back to 20k are high , and as we can see the actual support (9.1k$) holds perfectly and BTC bounce from there.
In my opinion BTC should break this range and make his was to 19.7k without any stops once this range is broken.
The “strategy” will be to hold BTC and to open leveraged positions once the actual triangle breaks.
Keep in mind that once BTC breaks 14k there won’t be no roof left till the low 20k and that the movement will be faster than anyone thinks it’ll be.
At the moment of writing BTC is still on the low of the range around 10600$ and is facing the triangle resistance.
Once the resistance broken it’ll take BTC straight to the high of the range that sits at 12k.
The “long your longs” rule is about to come back.
TARGET FOR 2019 : ABOVE 20K$
About the technical indicators we have a nice bounce from the RSI at the same place as when BTC stopped dropping back in january , we also got a nice bull div.
MACD is bullish.
Mena from leviathan capital partners @btcsmartconsulting
twitter @menahemsultan65 .