Updated

Bitcoin do or die time

This higher low we just potentially made around the 50 MA must hold, and in my opinion it will. But if it does not we will probably fall out of the channel and make it down to the pink trendline (very very strong support there).

Why I think it will hold:

4h chart:

Good luck.

Note

4h bounced real nicely:

Let’s hope the 50 MA whipsaws as opposed to crossing down over the 100 MA.

RSI looking great on the daily:

Note

Not a great sign that 50 MA has just crossed over the 100 MA on the 4h, this has been a good cross to watch. Let's hope this whipsaws soon.

Note

Possible this could be an abcde triangle:

Considering the MA cross, we should find out the direction soon enough.

Note

It's starting to look like the recent low will hold. Will get even more confirmation when we break the white dotted neckline:

Note

Breaking the neckline now...

Note

Looking great:

Note

Tweet from a few hours ago:
twitter.com/btc_joe/status/879052695809740800

...support just tested, time to bounce?

Note

Let's see if 50 MA crosses back above the 100 MA here...if so then this uptrend should continue IMO:

Note

Support was tested again and held on the 4h:

Zooming out to the 1d we have 4 lower lows in RSI and 4 higher lows in price, this is hidden bullish divergence:

Looking great, the bull market continues....

Note

Looking like we are on the brink of a break out,

here is the 4h chart (still would like to see the 50MA cross back above the 100MA):

Here is the daily chart, looks like the 50 MA held, and we are about to break out of the triangle:

Looking good.

ltc-joe

Related publications

Bitcoin just broke through the last line of resistance…

by ltc-joe

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.