The #BTC has risen in price in recent days, with a significant price increase in the last 4h, which is a sign of recovery?
Let’s start immediately from the price chart in image 1:
Image 1: tradingview – btc / usd – timeframe 1h – 2018-07-02
What can be seen is:
- A double bottom on the price chart, followed by the breaking up of a triangle, both bullish signs;
- The overwhelming RSI, due to the last climb;
- The ADX which still marks a weak trend;
Given these factors, an example of trading for those who are out of the market, is to stay out waiting for a probable downward correction of prices.Then decide an entry with the appropriate stop loss.
For those who are in the market, it may instead be good to stay flat, also with the appropriate stop loss, waiting to understand if the climb continues.
We at Cryptograph Team are currently in the recato and remain flat.