Bitcoin At The Edge Of A Real Bull Market

10 พ.ย. 2020

First of all, I'm not a financial advisor, so this mustn't be taken as a financial advice.
In trading, simplest ideas usually work best, there's no need to make things more complicated on yourself if there's no necessity.
Bitcoin is on the verge of an actual prolonged bull market and we're being given the chance of entering a macro-term long trade.
This asset likes to ride the 21EMA on the weekly timeframe during its macro uptrends.
It usually takes several weeks, but given enough time, after a spectacular upside breakout (that we've already experienced), we can count on the weekly 21EMA being retested.
I've marked a 11500-12050 USD range where Bitcoin will probably end back before likely continuing its upward trajectory.
Right now it's somewhat in line with the weekly 21EMA as well.
However, keep in mind that Bitcoin can always go sideways for one, two, or even three months without retesting that support, just waiting for the weekly 21EMA to catch up before resuming its macro uptrend.
Never forget, the trend is your friend until the end.
Always keep the risk management on point.
Good luck everybody.