BTC Update 4HR TF Sept 11
BTC has had an explosive +17.56% rally since the recent low @ 18.5k on Sept 6.
Now that we've had some fun/bullish relief, it's time to have an objective look at the what the charts are telling us.
Bullish case:
- 50 about to cross above 100 @ 4pm EST
- 9 crossed above 200 @ 12pm, with 21 following a few days behind
Bearish case:
- major OH resistance @ 300SMA 22k
- major OH resistance @ BF channel 22.4k
- major OH resistance @ downward slopping trendline from Nov ATH 23.1k
- 4hr RSI is pretty over-extended
I'm NOT saying that we can't rally further, we absolutely could.
IF we were to have a sell-off, first support target range is 20.4k - 21k.
Trade safely fellas
Now that we've had some fun/bullish relief, it's time to have an objective look at the what the charts are telling us.
Bullish case:
- 50 about to cross above 100 @ 4pm EST
- 9 crossed above 200 @ 12pm, with 21 following a few days behind
Bearish case:
- major OH resistance @ 300SMA 22k
- major OH resistance @ BF channel 22.4k
- major OH resistance @ downward slopping trendline from Nov ATH 23.1k
- 4hr RSI is pretty over-extended
I'm NOT saying that we can't rally further, we absolutely could.
IF we were to have a sell-off, first support target range is 20.4k - 21k.
Trade safely fellas
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