Bitcoin (XBT/USD - BitMex) - Breakout!

Bitcoin (XBT/USD - BitMex) - Breakout!

By milionarioo | DigiNomic | 29 Apr 2020


The $ 8,000 was finally broken upwards, resulting in turbulence as expected, which caused the price to jump further. So far there are still no signs of supply: demand continues to run, and I'm curious to see how far.

VERY IMPORTANT  now NO  FOMO and no  shopping or open long . In these situations the risk of buying at the top is very high.

The bullish movement is currently hyperextended, so it is worth waiting for the next reversal, or dip, to plan any purchases. When we have more data available (today's candle close and tomorrow's follow-up in the first place) I will share some hypotheses of the accumulation area.

The important thing to observe now is that the 8k are maintained, that the volumes remain more sustained than in the next few days, and that the open interest starts to increase again: this would indicate organic trading activity above the resistance, which would become consequently a question area.

Eyes open!

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