BitcoinUpdated Daily 15m, 1h, 4h Clouds
Grindy day! Bitcoin went thru the side of the cloud on the 15, instead of falling one more time and coming up through the bottom as I had predicted. It continued up to 9100 but has met strong resistance there.
I think we'll continue sideways between 9000 and 9100. The cloud is rising on the 15 and should push it up on the 15, at the same time go sideways into the hourly cloud and eventually breakout once it thins out, which should also bust it out of the 4h cloud finally. Approx 10-11 hours to play out, and a move to 9200-9250.
I think we'll continue sideways between 9000 and 9100. The cloud is rising on the 15 and should push it up on the 15, at the same time go sideways into the hourly cloud and eventually breakout once it thins out, which should also bust it out of the 4h cloud finally. Approx 10-11 hours to play out, and a move to 9200-9250.
Note
Bitcoin outperformed my projection again! Right idea, wrong path. I still expect more up today, and close a candle above the 4h cloud. There is some resistance from the inside top of the cloud and 200MA on the 1h, so watch closely. We also have the 50MA on the 4h creating some resistance as well. If it rejects, we'll probably go sub 9k.Note
Looks like I spoke too soon! It rejected back into the path I thought it would follow in the first place. My original thoughts stand in that case, and we refuel and break up later today.
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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.