BITCOIN : Short Term Possible Scenario's
Updated
#Bitcoin_Update #4H
Bitcoin 4H time frame chart showing a test at on the key price level of a support at $9011 and this must be a taken as a key point for Bitcoin. If it closes below this key price level we will heading to test the next support area at $8724. In general there 2 main scenario's to occur at the current trend.
Scenario 1 : Break out for a correction and this correction might even go further for an ABC correctional wave formation.
Scenario 2 : Reverse back for another leg up to test our current resistance price level at $9475 which might see a rejection once again for a H&S creation and for a bull run like the past two H&S formations for a test of the next stronger resistance price levels at around $9800 and $10000.
RSI and MACD in favor of the bears for the short run for now. and EMA[20] is also trending on the way to the bearish side.
Our conclusion is we still can't confirm the next move unless we see some more chart formation indications but the close of the current or maximum the next 4H candlestick formation will tell us where Bitcoin will move in the short run.
Stay Tuned For further updates. And you can follow our social media platforms for Live updates too.
TogetherWeAccumulate
With Regards.
Bitcoin 4H time frame chart showing a test at on the key price level of a support at $9011 and this must be a taken as a key point for Bitcoin. If it closes below this key price level we will heading to test the next support area at $8724. In general there 2 main scenario's to occur at the current trend.
Scenario 1 : Break out for a correction and this correction might even go further for an ABC correctional wave formation.
Scenario 2 : Reverse back for another leg up to test our current resistance price level at $9475 which might see a rejection once again for a H&S creation and for a bull run like the past two H&S formations for a test of the next stronger resistance price levels at around $9800 and $10000.
RSI and MACD in favor of the bears for the short run for now. and EMA[20] is also trending on the way to the bearish side.
Our conclusion is we still can't confirm the next move unless we see some more chart formation indications but the close of the current or maximum the next 4H candlestick formation will tell us where Bitcoin will move in the short run.
Stay Tuned For further updates. And you can follow our social media platforms for Live updates too.
TogetherWeAccumulate
With Regards.
Trade active
#Bitcoin_Update #4H
After all it seems we are in a bullish scenario and the bears are currently seems to be losing it at all. Currently trying to reach and pass that 9475$ area and it did tried to reach there with only a $10 less price levels. Every single setup looking to be perfect for a breakout and a bull run for the short term.
Indications:
MACD : looking very bullish crossing each other in favor of the bulls at all.
RSI : Very perfect place to be said in a bullish move right now at around 66 which is showing a good incoming volume to the market.
Candle Stick : Even though it is not in a down trend in the 4H chart we have seen a dragonfly bullish doji candle formed before 8 hours. And the current candle stick also looks very bullish and all the 3 candles formed consecutively are showing a surely bullish trend for a break out towards the next resistances of $9750 and $10000.
Pattern : The triangle formed by the past week is breaking out and showing Bitcoin has a very good potential for a breakout towards for the long waited 10K level.
EMA[20] : Showing a bullish scenario happening right now being below the current candle which will be taken as an indication for a bullish upward trend for the short term.
Conclusion :
We expect Bitcoin will be on the way to the $9750 and 10K USD price levels by the following 3 to 4 candles if it can close the current candle above the $9475 area.
Stay Tuned For further updates. And you can follow our social media platforms for Live updates too.
TogetherWeAccumulate
With Regards.
Trade closed: target reached
#Bitcoin_Update
On our last update we have been saying that we were deadly sure about the bullish moves on BTC and sure it did show a good performance in the days following that reaching 13868 USD. Since every bullish trend move needs some breathing time we are here seeing Bitcoin trying to correct itself for the short term. For now the correction is healthily performing and we might further see the 12510 USD area if it can hold some more momentum in the short run or else if bears continues to dominate like they did after the yearly high we might see a good retrace move which is very healthy up to the 9300 USD - 9500 USD area. We will give more active and detailed updates on Bitcoin in short while. Stay Tuned.
With Regards.
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