Bitcoin at important levels (what to watch and how to trade)
Updated
Bitcoin is at very important levels. We are almost touching that 200 Moving Average line on a daily chart. First we need to break through that line. It's at 9180 usd at this moment. I messaged about bitcoin bottom at 7300 to my friends. I warned publlicly about selling btc at his top at 11.800.
We broke through the mini down trend channel at 8200 usd. It gave some boost to btc going up. Some news about G20 meeting triggered that boost. A few days ago it looked like bitcoin is gonna have a death cross, MA 200 line crossing with MA 50 line. You can see them on my chart, those 2 blue lines. If they cross in the next days or weeks, it could be a bearish sign for many investors. But btc had his rising momentum in the past days and changed the 50 day moving awerage line a little bit. It still can avoid that death cross if it makes through those important resistance lines on my chart.
There are resistance lines, first resistance, MA 200 line currently at 9180, then after that you can see the lines up to 10.000. If we break through that pink line, currently at 10.000 usd, we will get out of this downtrend channel.
The most important thing is to watch if that death cross will happen in the next days or not. The cross between MA 200 and MA 50 line. If you have any questions, you can message me. Thank you for your support and stay profitable.
We broke through the mini down trend channel at 8200 usd. It gave some boost to btc going up. Some news about G20 meeting triggered that boost. A few days ago it looked like bitcoin is gonna have a death cross, MA 200 line crossing with MA 50 line. You can see them on my chart, those 2 blue lines. If they cross in the next days or weeks, it could be a bearish sign for many investors. But btc had his rising momentum in the past days and changed the 50 day moving awerage line a little bit. It still can avoid that death cross if it makes through those important resistance lines on my chart.
There are resistance lines, first resistance, MA 200 line currently at 9180, then after that you can see the lines up to 10.000. If we break through that pink line, currently at 10.000 usd, we will get out of this downtrend channel.
The most important thing is to watch if that death cross will happen in the next days or not. The cross between MA 200 and MA 50 line. If you have any questions, you can message me. Thank you for your support and stay profitable.
Note
As i predicted, the first resistance, MA 200 blocked btc, i willl update how it goes
Note
Still in down trend.
Note
s3.amazonaws.com/tradingview/snapshots/x/X4Ifmwu9.pngbroke out of this mini channel and touched my line at 8600
Note
if 8600 line becomes new support, there is still some hope for this breakout, it was blocked by MA 50 on a 1 hour chart at 8698
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