What's up Crypto Fam! We are approximately 104 days away from the Bitcoin Halving and BTC is looking ripe. If you checked out our last analysis it was right on the money.
Taking a look at our linear scale on the BTCUSD daily chart, BTC broke out of our downtrend channel with some solid volume and broke through the 200 MA with no problem at all. We came into resistance at the $9000 area we've been monitoring and we were expecting a quick dip right after back down to the $8200 level, we hit a bulls-eye of $8203 just at the top of the 200MA. This was a great entry position to grab a scalp trade if you were looking to make a quick $800 profit back to the $9000 area as BTC establishes a new support.
Where Do We Go From Here:
The next move the bulls want to see is a break in that $9200 region. They need to see a Higher High set up here to continue the bullish momentum as well as the Golden Cross in the next couple of days. Need make sure we don't get hit with a possible double top formation.
We'll be updating as we keep following BTCUSD.
Shoot us a like and follow and we'll be back with some updates!
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
Taking a look at our linear scale on the BTCUSD daily chart, BTC broke out of our downtrend channel with some solid volume and broke through the 200 MA with no problem at all. We came into resistance at the $9000 area we've been monitoring and we were expecting a quick dip right after back down to the $8200 level, we hit a bulls-eye of $8203 just at the top of the 200MA. This was a great entry position to grab a scalp trade if you were looking to make a quick $800 profit back to the $9000 area as BTC establishes a new support.
Where Do We Go From Here:
The next move the bulls want to see is a break in that $9200 region. They need to see a Higher High set up here to continue the bullish momentum as well as the Golden Cross in the next couple of days. Need make sure we don't get hit with a possible double top formation.
We'll be updating as we keep following BTCUSD.
Shoot us a like and follow and we'll be back with some updates!
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
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.
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.