IS BITCOIN BULLISH AGAIN? ARE BULLS BACK IN CHARGE? LET'S FIND OUT!!
Pic credits : https://www.thetimes.co.uk/article/spacex-rocket-launch-lift-off-for-elon-musk-s-90m-experiment-wkhqb6jtx
Hello guys,
So as we predicted a small bullish movement from bitcoin 2 days ago and it actually hit all our targets but sadly didn't come to our buying range ($5500-$5800) and nicely reversed from $6000. Now, we're back with a small update on bitcoin. Look at the picture below for reference :
As we can see in the above picture, bitcoin touched $6000 and reversed back above $8000 range pretty nicely breaking a short term downtrend. But the question still remains if bulls are back or is it just a bull trap??
Well, if it forms an inverse head and shoulders pattern (if touches $9400, comes down and holds $8000 level) then yes, it can turn bullish.
WHAT ARE WE EXPECTING?
We think if it breaks $9400-$9500 after forming an inverse head and shoulders pattern (BULLISH SIGN), then it might boom up to as much as $11000 or above (even $12000).
TRADE SETUP
BUYING RANGE : $8000-$8300
STOP LOSS : $7700
TARGET 1 : $9400
TARGET 2 : $10400
Target 3 : $11300 - $11500
DISCLAIMER : THIS IS NOT A FINANCIAL ADVICE BUT THE BEST POSSIBLE PRICE FORECAST ACCORDING TO US. PLEASE DO YOUR OWN RESEARCH BEFORE TAKING ACTIONS.
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