Oil Effects.
Weekly Time-frame
Still bearish and we are still need to fill the long wick to the upside of the previous weekly candle it might not close there but it will have to reach the $44,093 top before coming down again. We are forming symmetrical triangle that can either break out to the upside or downside. With the current events right now we are more closer to short position. once S&P 500 index, Russel 2000 index dumps we can expect more dump for Bitcoin like retesting the 200 Moving Average in weekly time-frame.
We just need to watch out to the news about our stock market.
1D Time-frame
We are getting closer to our support area of $39,259, $38,352, $37,197. These are the supports where we would most likely bounce. Our Awesome Oscillator (AO) is bullish so no worries at the moment we printed Green Volume signalling to the upside.
4H Time-frame
The area below 4H 200 MA, which means we are back to bears. What most likely will happen here is a test to our support at $39,254 if it holds it will bounce here, if not it will retest $38,350 if it holds we will bounce there or retest at $37,197 and bounce from that area. that support area are most likely we can open long position.
We will discuss more on the possibility on our Live. Stay tune and check with us!
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Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
Still bearish and we are still need to fill the long wick to the upside of the previous weekly candle it might not close there but it will have to reach the $44,093 top before coming down again. We are forming symmetrical triangle that can either break out to the upside or downside. With the current events right now we are more closer to short position. once S&P 500 index, Russel 2000 index dumps we can expect more dump for Bitcoin like retesting the 200 Moving Average in weekly time-frame.
We just need to watch out to the news about our stock market.
1D Time-frame
We are getting closer to our support area of $39,259, $38,352, $37,197. These are the supports where we would most likely bounce. Our Awesome Oscillator (AO) is bullish so no worries at the moment we printed Green Volume signalling to the upside.
4H Time-frame
The area below 4H 200 MA, which means we are back to bears. What most likely will happen here is a test to our support at $39,254 if it holds it will bounce here, if not it will retest $38,350 if it holds we will bounce there or retest at $37,197 and bounce from that area. that support area are most likely we can open long position.
We will discuss more on the possibility on our Live. Stay tune and check with us!
Want more insights before US market open? Hit Like, Share, and Subscribe for more daily trading tutorial & cryptocurrency news
Trade Scholar, the best cryptocurrency educational community online!
Find the content above difficult to understand?
Feeling lost about how to trade?
Want to learn how to do your Own Price Prediction?
We endeavour to share you our investment knowledge & experience in order to help you starting your path to financial freedom. Follow, Subscribe & Join our Community to trade together!
Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
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