Bitcoin - Bullish Regular Divergence. Uptrend is about to begin?

BITSTAMP:BTCUSD   Bitcoin / Dollar
The Price reached strong support level zone where the price bounced back up but did not manage to break uptrend level which is acting as resistance now and the price fell back in to strong support level zone. If the price manages to break the Uptrend Line this would signal of possible trend change. Buy orders can be set above of the local swing high and only should be traded from breakout. The chart is showing us Bullish Regular Divergence which is supported by MACD & RSI and histogram supports upward movement. Also something that's note worthy is that selling power is getting weaker. If the price gets rejected and drops even further down. Just below of the current support zone there is another strong support zone to watch reversals from.

There are some important levels to watch for if the price manages break upwards and one of them is the downtrend line and previously known strong support level (at 13,000.00) which has turned in to resistance level . These levels are in key role whether bitcoin continues uptrend and there might be minor corrections from these levels before moving further up.

Trading Information:
Buy: above 9,500.00
Partial Profit Targets: 13,000.00
Main Profit Target: 17,000.00 / 19,000.00
Stop-loss: 7,950.00
Partial of the amount should be left for the longer run.

If you need any help with trading, recommendations or where to search basics just feel free to leave me DM in here or in my twitter. I try to respond ASAP! :)
Happy trading!

Things to Remember:
  • Stop-loss orders are strongly recommended.
  • Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
  • Do your homework before investing.

Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.

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