Bitcoin near important price area - 9K or 14K !?

3 ส.ค. 2019

After a double bottom was formed at the beginning of the week the price is back in the uptrend within short term. I expect the end of the uptrend to be around $11850 because there will be a lot of sellers entering the market. For all those who already hold a long position I would take that as a part take profit target. For those who are waiting for a good short/long there are two scenarios

1: The price breaks the down trend line, confirmed by a support above the trend line and then starts with strong growth, here you have to wait for the confirmation after the breakout to get a good long entry

2: The price breaks the dotted line downwards, here I would go directly short as a fast price fall is to be expected.

-RSI and Stochastic RSI indicating smaller correction within short term - market price must stay above 10400 $ otherwise is this setup invalid
-MACD going to cross bearish which brings sellers into market within short term
-Volume getting slower constantly which indicates trend continuation in short term

Good luck and a nice weekend to all