After forming a beautiful double bottom pattern, BTCUSD clears key resistance level at 11600, which coincides with it reclaiming previous rising resistance line as a support.
In addition it moves above ema20. MACD prints a buy trade signal as well. We therefore enter a long position, targeting 12500-13000 area and placing stop loss below the recent double bottom.
We will also consider exiting the trade if MACD shows a sell signal and/or RSI moves into the overbought area above 75
In addition it moves above ema20. MACD prints a buy trade signal as well. We therefore enter a long position, targeting 12500-13000 area and placing stop loss below the recent double bottom.
We will also consider exiting the trade if MACD shows a sell signal and/or RSI moves into the overbought area above 75
