Bitcoin going to 9K - how to trade & long entry
Updated
market reached today the 200 day moving average line and middle term trend support line on 4 H chart. Expect fast down movement if the next 4 H candle close under the red 200 day moving average. I expect a retest of 11K resistance which is good sell order entry or take profit for buy orders from 10600 $.
- bearish market structure on 4H
- RSI is not heavy over selled and looks like another down movement
- MACD baselines area in bearish area and doesn't look like a bullish crossing of baselines is incoming
- market price reached downside of Bollinger bands and the bands getting bigger which implements a incoming big market movement
- 50 day moving average going to cross 100 day moving average which brings sellers into the market
- bearish market structure on 4H
- RSI is not heavy over selled and looks like another down movement
- MACD baselines area in bearish area and doesn't look like a bullish crossing of baselines is incoming
- market price reached downside of Bollinger bands and the bands getting bigger which implements a incoming big market movement
- 50 day moving average going to cross 100 day moving average which brings sellers into the market
Trade active
market reached as expected the 11K resistance and tested itTrade closed: target reached
sell target reached - new analysis following soon - follow me to stay up to date
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
Related publications
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.