Bitcoin - short term forecast
Updated
Dear traders and followers,
the Bitcoin price moves within a triangle pattern and has confirmed a double bottom last Thursday. This is a short term buy signal. Expect many buyers entering the market after break and close above 11650-11700 $ area. If the market fails to break this price area a retest of trend line and price area at 11300 $ is very likely.
The MACD indicator on the four hour chart is near zero line and the buy volume start to decrease again. But the MACD on 12 hour and daily chart is pretty close to a bullish crossing of baselines and start of now buy volume growth. As the height of the time unit influences the value of the MACD signal we expect an early buy volume outbreak.
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the Bitcoin price moves within a triangle pattern and has confirmed a double bottom last Thursday. This is a short term buy signal. Expect many buyers entering the market after break and close above 11650-11700 $ area. If the market fails to break this price area a retest of trend line and price area at 11300 $ is very likely.
The MACD indicator on the four hour chart is near zero line and the buy volume start to decrease again. But the MACD on 12 hour and daily chart is pretty close to a bullish crossing of baselines and start of now buy volume growth. As the height of the time unit influences the value of the MACD signal we expect an early buy volume outbreak.
Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Thanks for your support !
Trade closed: target reached
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