Cryptocurrencies

Update Bitcoin 1D

The price has managed to hold the support located at 9248 creating an HL, this invalidates a correction below 9000, the swing has not been so aggressive, a sign of the strong trend that BTC maintains and the buying pressure, I have closed my short at 9280 and changed my long position looking for a target in the range of 11200 - 11500.

In 1H we can see the current candlestick movement that is making this momentum within the pattern, we still need to see an HH above the high range to have confirmation, after the 9500 flip, the price should push quickly towards 10000.

In 1D the price remains above the key diagonal, the candlestick closure is positive, we have so far a bullish flag, a continuation pattern.

In conclusion, the retracement has been very short, I expected a longer swing, but it is not the time yet, still these movements should be used to increase the capital in this upward path, those who follow my updates should understand that I will be reporting swings for scalping as yesterday's update, doing this requires constant monitoring of the price action, thing I can do individually as a full time trader, therefore, since my updates are at the close of candlestick daily, I do not recommend you to follow me to the letter these reversals, currently there is only 1 operation that you should maintain and is in long, we are in an uptrend and is the fastest wave of all, when there are long corrections you will know by my updates, avoid overtrading, that in the long run is less profitable for you.

You can follow me on Twitter: https://twitter.com/armijogarcia

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