BTC/USD: be ready for action

BTC/USD: be ready for action

2019-11-11 • Updated

Trade ideas

BUY 3800; TP 4000; SL 3750

SELL 3620; TP 3560: SL 3650

After a big leap up on February 8, volatility in BTC/USD has once again died down. On D1, we see a series of very small candlesticks capped by the 50-day MA at 3715. At the same time, a break out of this range is inevitable.

The advance above 3800 will open the way up towards the 100-day MA around 4080 as there should be a lot of resistance on the way. On the contrary, the loss of support at 3620 will make the cryptocurrency vulnerable for the decline to 3560. A break below this level will be necessary for a deeper decline to the 2018-2019 support line at 3450.    

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