BTC update 24th July
BTC now trading around 8000. First of all let us apologize for the amount of signals. There are a lot of things going on (private) that sadly keeps us from posting signals etc. Also I hope you guys understand now why we didn't post any alt signals, if BTC moves are big, alts suffer.
Back to bitcoin... We have broken the major resistance that has kept us low all the way from January (green line). This is a major breakthrough and as long as we stay above it for a couple of days we will be fine. The RSI (relative strength index) is above 70 now, we didn't go above 70 RSI for a couple of months now. The last time we went above this RSI level is December (orange circles in image). 70+ RSI could be a bad thing because it tells us that bitcoin is overbought, indicating that a correction is needed.
If we look at the EMA's there is good news too! Bitcoin broke the 200EMA (orange line). The thing now is that we need to close this above this 200 daily EMA. The 200EMA level is at ~7900. Going beneath this 7900 mark will indicate a correction.
Due to popular demand we will tell you what is more probable to happen. We always tell you 2 stories. One is on the upside and the other is the bad news. We think it is wise to always look at it both ways so you guys can prepare for the worst (stop losses etc.).
For now we think bitcoin will go sideways and cool off (let the RSI go back beneath 70). Once this RSI is beneath 70 (maybe 60) we will see a upwards movement towards 8300. To be sure watch the 7900 mark carefully, if we break that downwards we could see a correction so set you stop loss wisely (7750 - 7800 depending on your buying price).
DISCLAIMER :
We are not professional traders nor financial advisers. Please invest/trade at your own due diligence! You can't hold us responsible for losing money on trading signals we give you. You and you only take responsibility if you buy crypto and lost on these trades. So do your own research before buying. Our trading signals are purely informational.
Back to bitcoin... We have broken the major resistance that has kept us low all the way from January (green line). This is a major breakthrough and as long as we stay above it for a couple of days we will be fine. The RSI (relative strength index) is above 70 now, we didn't go above 70 RSI for a couple of months now. The last time we went above this RSI level is December (orange circles in image). 70+ RSI could be a bad thing because it tells us that bitcoin is overbought, indicating that a correction is needed.
If we look at the EMA's there is good news too! Bitcoin broke the 200EMA (orange line). The thing now is that we need to close this above this 200 daily EMA. The 200EMA level is at ~7900. Going beneath this 7900 mark will indicate a correction.
Due to popular demand we will tell you what is more probable to happen. We always tell you 2 stories. One is on the upside and the other is the bad news. We think it is wise to always look at it both ways so you guys can prepare for the worst (stop losses etc.).
For now we think bitcoin will go sideways and cool off (let the RSI go back beneath 70). Once this RSI is beneath 70 (maybe 60) we will see a upwards movement towards 8300. To be sure watch the 7900 mark carefully, if we break that downwards we could see a correction so set you stop loss wisely (7750 - 7800 depending on your buying price).
We are not professional traders nor financial advisers. Please invest/trade at your own due diligence! You can't hold us responsible for losing money on trading signals we give you. You and you only take responsibility if you buy crypto and lost on these trades. So do your own research before buying. Our trading signals are purely informational.
Reacties
Een reactie posten