Bitcoin Oversold - About Move Up (Short Term Analysis)

Updated

BTCUSD’ 4H Analysis (Hit LIKE to start reading).

We have several early reversal signals on this chart. Let's take a quick look at these:

We moved above the purple channel and quickly retraced . This retrace seems to be over according to the following signals. After retrace, comes another move up.
We have two reversal candles. These are the Dojis, the red candles with the long wicks at the bottom (yellow circle)
MACD is curving up with changing volume.
RSI coming out of oversold.
EMA10 being challenged. I would say within 24h for the next move.

If these signals breakdown and Bitcoin’ doesn't move up, you can expect a retest of $6300 or $6250 as support.

Thanks a lot for reading.

Namaste.

Comment

The first resistance/target will be found at $6400, followed by $6500 next.

Comment

Please allow time for this to develop. Patience is key... Bitcoin is sideways... No good to trade Bitcoin in these conditions, better to trade altcoins for massive profits, while we wait for Bitcoin to move up strong.

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Thanks a lot for your support. Truly appreciated.

Namaste.

Comment

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Namaste.

Comment

$6250 is where we find support, as described above. Don't worry about this small drop, massive hidden bullish divergence is already forming... BITCOIN WILL MOVE UP VERY SOON.

Patience is key.

Namaste.

AlanSantana

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