Fxprotrader
Long

Bitcoin: Sooner or Later a New Rally Will Begin

COINBASE:BTCUSD   Bitcoin / Dollar
The king of all cryptos is still in a corrective structure and all we do watch for, is the sweet level where this long-term correction may end, so we join the new upcoming upmove. Using median line analysis in the 4h chart I highlight two potential levels where price may find support and reverse.

First the median line of the pitchfork . It has previously acted as both support and resistance so it has a very good potential to act as support once again.

Second the sliding parallel of the median line . At the same level as the lower quartile of the set it has previously acted as support each time price tested it.

Personally I will watch for a buy setup completion in case price reaches each of these levels. It's pretty obvious that the best option would be to buy Bitcoin             at the lower sliding parallel at around $4K - $4,5K. The less expensive the more we buy :)

I will update this post so like and follow to get the updates.

All the best,
John
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