BTC Bull Jesus has a Second Coming?

1 lut 2020

It's been a fun week of profitable trading for those of you on the right side of the trend. With the exception of a nasty liquidity check yesterday, BTC trading has been straight forward with easy targets met.
Yesterday a key target of $9550 was met. This was a critical break above 9200 resistance.
Don't mind the rejection from there. Bearish divergence was confirmed up through medium timeframes as you can see it here on the 6h.
BTC respectfully tested the 4H 21e, as it frequently does when bearish divergence arises after a big move.
EdgeTrader on the hourly signaled a buy at $9390 this afternoon. But this is the top side of today's range you say? Yes, because overall the price action is quite healthy. If you are playing the 4h 21e strategy, kudos to you as well. Will we test it again during weekend trading to make a better entry? It is possible, but BTC is not always to kind to give you another chance there.
Today's 24h close was important! The close well above 9200 brings us the coveted ✞GOLDEN CROSS✞ on the daily we have been waiting for.
Another critical event happened today. CME closed the day, week and MONTH. Not only was it a strong weekly and monthly close, but in this case it absolutely confirms the trend reversal. In other words we have higher highs and higher lows consistently. Not to mention the highest monthly close since September.
Many will regard today's trading events and closures as confirmation of a bull market.
Does this mean Bull Jesus has arrived?
Well there are many things to consider...
First of all we must remember that anything can happen in the market at anytime, so always trade cautiously!
In this case, please trade with the trend. If you are working with lower time frames on Edge Trader, do not take short calls to open orders, use them to take profits. Use higher timeframes (4h, 6h+) to confirm any sort of boolish reversal.

Summary:
Open: $9390
Short Term Target: $9590
Med Term Target: $10,190

Danger zone: Be weary of 4h closures below $9200

Remember:
Alway be prudent with your trades!
Plan before you trade.
Know your entry.
Know your take profit area.
Use a stop loss.
Understand the amount you are risking.
Do not over leverage.

Happy trading to all!
Let's be rich with ideas, love and happiness beyond all monetary value.
💡❤️😃🙏 > 💵

Novelty use only. This is not financial advice.

3 lut 2020

Uwaga

Short term target met (nearly to the dollar 🥳🎉😃)
Congratulations to those who played a similar move over the weekend.

What does this mean for future price action?
On a macro basis, the weekly close was quite strong. The test into new, higher territory was also a bullish sign.
However, we will have a neutral stance until BTC sees another test above $9600.
Candle close (1h or higher, 2h or 4h close is best) above $9600 is likely to bring price action towards $10,200 area.
*Pay attention to downside 1h or higher candle closes below $9200 (this hints to a breakdown and further continuation to the downside.)

3 lut 2020

Transakcja zamknięta: osiągnięto wyznaczony cel

Target met. No immediate continuation. Neutral until breaking next zones.

9 lut 2020

Uwaga

$10,200 level met - congratulation to those who held to this take profit area.
For another long re-entry, we're looking for a possible test to fill the CME gap from Friday's close ($9857, less $100 premium).
However, BTC's current posture is currently quite bullish and perhaps a gap is left open for some time.
Critical areas to watch:
1h close above $10,300 (watch for a move to $10,500 and beyond)
4h close below $9500 (watch for more continuation downward to 9k)