BTC did a false breakout of the 2-day low at the price of $3.530, which is a sign that selling looks risky. I have found a strong reversal bar (reversal up-thrust), which is a sign that smart money did shake out the weak trading money. I have also found the breakout of the supply trendline, which is another sign of strength. Watch for buying opportunities.
Trading recommendations for today: We are long BTC from $3.575 with the upward targets at the prrice of $3.647 and $3.687 and a protective stop below the level of $3.520.
The material has been provided by InstaForex Company – www.instaforex.com
BTC did a false breakout of the 2-day low at the price of $3.530, which is a sign that selling looks risky. I have found a strong reversal bar (reversal up-thrust), which is a sign that smart money did shake out the weak trading money. I have also found the breakout of the supply trendline, which is another sign of strength. Watch for buying opportunities.
Trading recommendations for today: We are long BTC from $3.575 with the upward targets at the prrice of $3.647 and $3.687 and a protective stop below the level of $3.520.
The material has been provided by InstaForex Company – www.instaforex.com
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