BTCUSD should hold 7MA-weekly as support for next bull run- LONG
Here I am comparing the Historical Bitcoin chart before halving to predict upcoming price action.
In Nov'15, Bitcoin price pumped high similar to the recent 42% move of bitcoin. Bitcoin found support above 7MA on a weekly timeframe and stayed above this MA till Halving in July'16.
We have got the pump similar to Nov'15, Now I am expecting to hold 7MA as support on the weekly timeframe.
7MA weekly is considered an important Moving average on the weekly timeframe, which generally gives direction to whole market.
Trade Signal:
Entries: 8500-8700$
Exit: 15000-18000$
STOP: 7500$
Timeframe: 4-5 months
In Nov'15, Bitcoin price pumped high similar to the recent 42% move of bitcoin. Bitcoin found support above 7MA on a weekly timeframe and stayed above this MA till Halving in July'16.
We have got the pump similar to Nov'15, Now I am expecting to hold 7MA as support on the weekly timeframe.
7MA weekly is considered an important Moving average on the weekly timeframe, which generally gives direction to whole market.
Trade Signal:
Entries: 8500-8700$
Exit: 15000-18000$
STOP: 7500$
Timeframe: 4-5 months