BTCMXN on a Winning Streak

BTCMXN CHART PRICE – BTCMXN DAILY

For the third consecutive session, Bitcoin has closed the day with earnings, the movement ranges have been very consistent making the last 3 candles look almost identical, it now trades over the Ichimoku cloud which is an indicator that the uptrend could continue while the Bollinger bands are wide, giving us hope for more volatility during the session, the relative strength index is at 61% meaning we are still in good shape to go long, not for much tho, once we reach 70% the markets will react and very likely start going short and closing long positions, which could drive the price back down, until these conditions happen we still have a good chance to trade BTCMXN long for a few hours, perhaps a full trading session, always keep an eye on the RSI and other indicators before placing a trade and make sure you monitor the pair for anything unexpected.

This post does not provide Financial Advice for traders, its merely purpose is education, use all the information available from different Analysts and build your own strategy, trading is not for everyone, you should only trade with money you can afford to lose, past performance is not an indicator of future results.