Technical Analysis Update: Long BTCUSD

This is an update to an earlier trading calling for BTCUSD $13,500 but saw some major signs of rejection at the high so wimpled out.
After the price took a tumble, we may have found support here at what was gained from the previous leg up.
Entered a small long position at $11,253, looking for a test of what was lost from the highs.
Is the price doesn’t get repelled from the highs too aggressively, that should be a sign of bullish momentum giving us a chance to push higher towards $12,000 and then $13,500 with a final target (not anytime soon) of $16,500.
The initial reason for entering back long is due to the support at the immediate left (shown in the image below). This is the level which was gained to give the recent high. Failing this, will bring BTCUSD to the start of the leg ($11,234) where we wouldn’t be very likely to see a high is we can’t hold. Losing that level would open up the move to drop towards $10,300’s.

This trade has continually been updated on Trading View:

Bitcoin Rally by BTCNN on

Related posts
cryptocurrencyDOGEdogecoinDOGEUSDElon MuskNews

Be Careful! Elon Musk Warns As Dogecoin Soars On SNL Eve

In the warm-up to a special Saturday Night Live Edition featuring the self-acclaimed billionaire dogefather, Elon Musk, Dogecoin (DOGE) has recorded tremendous speculative success and is currently sprinting past the $0.6 mark in a bid to cross the $1 epic…
cryptocurrencyNewsRippleSECXRP NewsXRPUSDXRPUSDT

A Look At What’s In Store For XRP If Ripple Eventually Goes Public After SEC Case

Fired up by the soaring success of Coinbase, Ripple Labs Inc, the establishment behind the fifth most valuable cryptocurrency – XRP, has disclosed plans to issue an Initial Public Offering after it is done with its court case. The embattled altcoin…
BanksBinancebnbusdcryptocurrencyCryptocurrency NewsNews

Banks Refusing To Work With Crypto Will Pay A Hefty Price: Binance CEO CZ

The CEO of Binance has been very vocal about his stances on the cryptocurrency market. Yesterday, the CEO revealed he may have underestimated cryptocurrencies like DOGE, ETH, BTC, and BNB. He even emphasized DOGE’s impressive performance, despite holding zero Dogecoin….