Charting BTC for the Next Big Move

Good Wednesday, Traders!

Digital currencies are considered by many to be a great hedge against inflation as well as volatile traditional assets such as stocks and bonds. 

And indeed, this has been the case now and again. 

The biggest of the digital currencies, BTC, went from $35,364 on Jan. 23 to $47,967 on March 28 for a gain of 35.64% on a cash basis.

We participated in much of that gain inside our Futures Edge and War Room trading services. 

And we now are looking for buy ideas again for BTC, which may be shaping up in shorter order. 

Charting BTC for Gains

Here’s how BTC is setting up on a monthly basis…

Monthly BTC Futures Contract Price & Technical Analysis – Source: TradingView

The monthly BTC chart shows a major up Fibonacci level of $103,410, which is a big potential target.

However, it has to be further confirmed by the daily and hourly charts.

Daily BTC Futures Contract Price & Technical Analysis – Source: TradingView

The daily BTC chart shows a closer potential resistance level of $48,525 that is closer in line with the last major up move in the digital currency. 

And this chart shows the upside potentially in the making right now. 

But then we turn to the hourly chart for a closer definitive direction…

Hourly BTC Futures Contract Price & Technical Analysis – Source: TradingView

The hourly chart for BTC shows the potential for the upward move in the digital currency.

As of today, BTC broke the counter trend line and is now in the buy zone.

According to our research, the rules say it is a good time to start buying BTC again as long as the market stays in the one hour buy zone.

As the BTC futures contract market further develops, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.

I’ll be bringing you more of my futures contract trading tutorials as well as some additional trading ideas, including for BTC.

And if you know someone who’d love to make this a part of their daily trading routine, send them over to joshsdailydirection.com to get signed up!

Keep On Trading,

P.S. I’m going to show you all the details of this 7-Day Stock Predictor TOMORROW at NOON

Click here to reserve your spot for this revealing session!

Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

Leave a Reply

Your email address will not be published.

Stop wondering what direction the markets are headed! Sign up right now to get Josh’s Daily Direction straight to your inbox each morning before the trading day even begins. Best of all – it won’t cost you a dime.