BTC/USD Prints Another BUY Signal

BTC/USD Prints Another BUY Signal

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Following my last post

As my last post pointed out the original buy signal, this post is strengthening the bull case. As you can see here, another green arrow has printed, along with a red arrow. After reading my last post you will know that we can place a stop loss order at the low price on the candle that has the red arrow below, and another buy order at the high price of the candle that the green arrow prints above.

Here we can put a stop loss in @ $7669 and a buy order in @ $8285. This buy order is obviously under the current price meaning you would have to wait for it to fall in order for that order to fill, which is why this is more of a strengthening case as opposed to a buy-in point.

The buy signal was printed with a buy-in price of $8471. As you can see the green arrow printed above the candle with a high price of $8471 a few days back. If there was a buy order placed at that price, it has now filled and you can expect it to continue to rise. There should also be the stop loss at the low price of the red arrow, that $7669 price point.

As you can see this was a safe trade and now has become an even stronger bull case with the new green arrow.
Published at Tue, 14 Jan 2020 13:14:58 +0000

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