BTC price prediction for 6/9 (Bybit competition entry)
Good morning! My prediction is 9080 USD. I think the bounce from about 10350 was strong enough. It will take a while before bulls get the courage to attack the same level again. Selling momentum will continue. But the volatility is low and stagnating, which make me think the recent swing low will be enough to stop such move. 9th June is Sunday, weekends are statistically more bullish and they don't have that much volume. That makes me think that price will rise a little above 8700 level where the swing low is.
I also mentioned extremes in the picture. Dots in the middle of channels are an adapted version of Awesome Oscillator. If it makes new highs on the histogram, dots are printed. They weren't on 10350 level, that signifies momentum dissipation.
Even though my entry is 9080, I think the price might be anywhere in the first blue rectangle. Second blue rectangle is where I think we are heading and going to bounce for the next bullish wave, it is the area of 200 EMA and anchored VWAP. These two make up for a good support.
Have a great day!
I also mentioned extremes in the picture. Dots in the middle of channels are an adapted version of Awesome Oscillator. If it makes new highs on the histogram, dots are printed. They weren't on 10350 level, that signifies momentum dissipation.
Even though my entry is 9080, I think the price might be anywhere in the first blue rectangle. Second blue rectangle is where I think we are heading and going to bounce for the next bullish wave, it is the area of 200 EMA and anchored VWAP. These two make up for a good support.
Have a great day!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.