Bitcoin has formed Bullish Divergence | Good to pick this for Scalp Trade
CryptoKraze here
Possibility on 1 hour Chart
If you look at the 1 hour chart, you will see that a bullish divergence has formed because price has made lower lows and RSI is making lower high, which mean blue lines are going opposite direction. RSI has gone below 30 level and now moving nicely above 30 level, so I am expecting it to go even higher. Price has touched the lower bollinger bands and now it will move up nicely. I have taken this trade as a scalp to make some quick profit.
- I have a buy entry at $12805 my profit target will be around $14150 or above if this divergence is successful.
- Stop loss just below the entry area is must for trading if you don't know the Averaging Technique in Crypto Trading.
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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Good information about bitcoin
It will be useful in trading
Very well said about bitcoin. Sir I will follow you in discord
Very informative and useful article.
Thanks for all the information.
Very useful
Can you check out Kucoin coins , every coin get rekd by 50-60% . Something really fishy going on there . DBC , PRL , Bnty !
I will check them as well, Really short on time because I have many things going on at same time.