Bitcoin Bullish on the 3-Day Chart

Bitcoin bullish on 3D chart by MekongMonkey on TradingView.com

BTCUSD , on the 3D chart, had a phenomenal green candle crossing the 21 EMA (yellow line), followed by an open and close above the 21 EMA . This is a textbook bullish case. Due to the high volatility of the market, I would start a small position around 9100 and put my stop under the 10 SMA (orange line) at around 8300. Targets are Fibonacci levels, taken from the last swing low at about 7300 to the previous swing high around 14000. My ultimate objective is the 0.382 level at around 11400. However, I would add to my position or take profit (depending on how we get there) at the 0.5 level (10600) and the 0.618 level (9800).

Follow MekongMonkey on TradingView for updates on this idea and to receive notifications whenever a new idea is posted. Please note, this is not trading advice. Watch your parking meters, don’t follow leaders, and always do your own research.

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