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BTC/USD Trading Ideas: 08/02

Aug / 02 / 2019 11:00 AM Friday

Here is a daily chart BTC against USD

As you can see from the chart the 30 MA (marked green) has crossed the 60 MA (marked yellow) and now they are

resistance for the price. Also, the last 3 days the price climbed up without volume.

MACD is about to cross the zero and RSI is above the 50th level

On the 4 hr scale, RSI goes into the overbought area but MACD is looking good

The market depth has almost 10 mln ‘Asks’ advantage but despite it the price is climbing up

The weekly MDR looks better for understanding and here we can see a divergence more clearly

Conclusions:

If you are bullish

Entry — 9800$ area, stop — 9280$, take — 10900$

If you are bearish

Entry — 10900$ area (better if it will be a false breakout) stop — 11550$ (above the false breakout) take — 9700$

 

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