BTCUSD is rebounding on the 1D MA100 exactly as it did on the previous HL wave of the 5 month Channel Up on March 10th. The 1D technicals are neutral (RSI = 45.138, MACD = -433.600, ADX = 31.812) confirming that this is the ideal long term buy entry.
On the March bottom the MACD made a Buy Cross (the only one) under 0.00, which validated the uptrend. We are close to repeating that so use it as a confirmation. Chart-wise the price needs to cross over the R1 (30,000) and hold the 1D MA50 as Support. If that happens, we will buy the breakout and TP = 34,000. If on the other hand the price breaks under the Channel Up first, we will sell and target the 1D MA200 (TP = 23,000).
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On the March bottom the MACD made a Buy Cross (the only one) under 0.00, which validated the uptrend. We are close to repeating that so use it as a confirmation. Chart-wise the price needs to cross over the R1 (30,000) and hold the 1D MA50 as Support. If that happens, we will buy the breakout and TP = 34,000. If on the other hand the price breaks under the Channel Up first, we will sell and target the 1D MA200 (TP = 23,000).
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.