Almost, but not there yet. ..
The price tried a breakout, above the downtrend line but was not successful.
RSI confirmed the price reversal from the downtrend line.
MACD supports a downward movement.
We can see now a short term retracement to the uptrend line and SMA20.
The local swing high can be used as a signal level. If/when bitcoins price breaks the downtrend line and moves above this swing high.
Then we’ll get an additional signal confirming further upward movement.
That will give us a new buy opportunity. For now we have 12000.00 resistance level, witch is not far from the swing high. It is recommended to place pending orders for buy above this resistance of $12,000.
Entry levels are
$ 12,050.00 with stop orders at $9950.00ish level.
Take Profit targets should be between. $15,000.00 and $17,000.00 resistance levels. The part of trade volume can be left for long run.
Cryptocurrency Exchange: Bittrex
Take-Profit T1(50%): 15,000.00
Take-Profit T2(100%): 17,000.00
Recommended Trade Volume: up to 10% from your deposit size. As always NEVER INVEST WHAT YOU CAN’T AFFORD TO LOSE.
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