BTC 4HOUR - BITCOIN NEEDS TO HIT THE GYM! OR WEAKNESS IS COMING!
Hello All,
As make my Monday morning analysis of the BTC 4 HOUR chart, I can see that bitcoin is again in a precarious position. BTC has tried to break this wedge late last week and followed that with one more attempt that made another lower high. Not looking great from where I'm sitting! When taking a look at the technical picture BTC is also showing more weakness. We are trending bellow all my key moving averages VWAP VWMA and the 9 EMA. This will be another hurdle for the market to climb at we need to eclipse 6800 to get this party started again. Further the MACD is starting to roll over and the STOCh RSI isnt looking to hot either. All in all for the time being im going to be leaning bearish until the market proves itself. I keep holding out hope this time is gonna be different as the market keeps coiling in wedge but its just not happening yet.
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like! as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
As make my Monday morning analysis of the BTC 4 HOUR chart, I can see that bitcoin is again in a precarious position. BTC has tried to break this wedge late last week and followed that with one more attempt that made another lower high. Not looking great from where I'm sitting! When taking a look at the technical picture BTC is also showing more weakness. We are trending bellow all my key moving averages VWAP VWMA and the 9 EMA. This will be another hurdle for the market to climb at we need to eclipse 6800 to get this party started again. Further the MACD is starting to roll over and the STOCh RSI isnt looking to hot either. All in all for the time being im going to be leaning bearish until the market proves itself. I keep holding out hope this time is gonna be different as the market keeps coiling in wedge but its just not happening yet.
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like! as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
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