Bitcoin Squaring Up for 35K
Bitcoin has found support beautifully on my fib levels that I have had plotted for some days now.
I am currently in a large long position from $32000, and I do not plan on taking any profit or closing some of my position until the level just above us is hit around 35k. I am not currently adding to my position but it should be noted that this not a bad time to do so.
Should we continue to hold support here at the .382 fib level, a retest of the next price level at $35000 should ensue. A breaking of the level will have to occur as well to continue the bullish uptrend Bitcoin is trying to form. If it is rejected, expect a retest of our current level again.
The short term moving average are starting to point sharply upward, and typically this has been an indication of a high bullish momentum.
A stop loss or two just below $33579 makes this a low risk high reward trade for those who are experienced.
I am currently in a large long position from $32000, and I do not plan on taking any profit or closing some of my position until the level just above us is hit around 35k. I am not currently adding to my position but it should be noted that this not a bad time to do so.
Should we continue to hold support here at the .382 fib level, a retest of the next price level at $35000 should ensue. A breaking of the level will have to occur as well to continue the bullish uptrend Bitcoin is trying to form. If it is rejected, expect a retest of our current level again.
The short term moving average are starting to point sharply upward, and typically this has been an indication of a high bullish momentum.
A stop loss or two just below $33579 makes this a low risk high reward trade for those who are experienced.
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