I'm seeing several factors that make me cautiously bullish on bitcoin. We have actual support based on recent price action at $8730 AND 200EMA acting as strong support, at the same time selling effort on the daily chart has been drying up. I'm obviously cautious about this analysis, but right now, the chart is telling me that we will continue seeing higher lows and higher highs, with the normal corrections in between.
FYI, unbiased because I'm not a bull nor a bear, but I'
Next few days are of importance to say the least. Could it be a bull trap? certainly, but we need confirmation, so far, support is holding.
Thumbs up if you agree!
FYI, unbiased because I'm not a bull nor a bear, but I'
Next few days are of importance to say the least. Could it be a bull trap? certainly, but we need confirmation, so far, support is holding.
Thumbs up if you agree!
Note
incomplete sentence lol:"FYI, unbiased because I'm not a bull nor a bear, but I'm just commenting on what the chart says at the moment "
Note
4HR chart is so far confirming this scenario as a possible bear trap. Time will tell.Note
Looking goodNote
Updated chart here
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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.