HedgeAction.comTM Daily Feature Stock: Bitcoin To US Dollar ($BTC/USD): Technical Viewpoint: From a low of $29,925 on May 19, 2021 prices rallied, reaching a high of $41,307 on June 15, 2021. A decline saw prices pull back, reaching a low of $28,908 on June 22, 2021. Another rally saw prices penetrate resistance, closing July 21, 2021, at $31,952. *** Technicals: Stochastic (STOC): A Buy Alert! was given on July 21, 2021, when the black line crossed the red line to the upside. Support : Remains at $29,500 *** Resistance: Is at $34,500 * Point & Figure * : Reversed to the upside on July 21, 2021. A P&F Downside reversal takes place at $31,000. * Summary: Technical indicators have turned bullish. * BUY! Bitcoin To US Dollar ($BTC/USD): @ $32,850 Stop: *Use a protective stop of $30,850 Price Objective: $45,000 * Risk/Reward: $2,000 VS. $8,000 * Today's Risk Reward Ratio: 4:1 * Dow Jones Industrial Average is currently trading @ 34,798 plus 286.01 on July 21, 2021. n *** |