Bitcoin Bears Losing Strength, Bulls Charge Forth!

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    hooked2thechain

    Published on May 19, 2020
    About :

    Will Bitcoin Break 10k?
    Despite my bearish take on the markets in my last post, I have now entered a long position based on recent action on the 4HR time frame.
    The Bulls

    • We are seeing a lot of pressure being put on the bears at the 9950-10,000 region, having touched that level multiple times, wearing them out a little more every time.
    • The previous 4HR candle showed decent bullish volume, giving more credence to this move.
      Support Levels
      The important supports are 9460 and 9250. A break of either of these levels will invalidate a 4HR uptrend.
      My Bitcoin Long Position Setup
      I've entered long positions between 9575 and 9800 with several stop losses set in the 9460 region. I'm targeting 10,500, giving me about a 3:1 risk to reward.
    Tags :

    $btc bitcoin technicalanalysis ta

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