BTC Technical Analysis July 29, 2018
Bitcoin price made a nice upside move above the $7700 after dropping over $300+ from the consolidation zone which possibly happen due to Winklevoss ETF Rejection that makes no sense, CBOE Application still need to respond, so we hope it'll be positive for entire crypto community !!
btc corrected at $7800 and resumed its bull run which was pretty sharp, if it succeed to hold this zone we could test $9000 by breaking $8500 Resistance, which is defintely a hard level and it'll confirm the direction whether we are going to test $9000 or another correction could happen.
There is cruecial trend line and a Double Top on 4H BTC/USD Chart (Data feed from Binance), that could play a major rule to show us regarding exiting of long consolidation zone towards upside, Incase it got rejected we will go down to test the support which we spotted on Chart by pointing down arrow.
4H Macd is curruntly pretty bullish But RSI has mixed signal so we are not gonna believe on RSI At all, better to look other factors including sentiment, volume behind the Orderbook and people's reaction regarding bitcoin movement that could give us a idea atleast what other fellow traders wants to do. Keep in mind sometime traders do opposite than they speak so #DYOR before placing your orders.
Wish you a profitable trading..... GOOD LUCK
btc corrected at $7800 and resumed its bull run which was pretty sharp, if it succeed to hold this zone we could test $9000 by breaking $8500 Resistance, which is defintely a hard level and it'll confirm the direction whether we are going to test $9000 or another correction could happen.
There is cruecial trend line and a Double Top on 4H BTC/USD Chart (Data feed from Binance), that could play a major rule to show us regarding exiting of long consolidation zone towards upside, Incase it got rejected we will go down to test the support which we spotted on Chart by pointing down arrow.
4H Macd is curruntly pretty bullish But RSI has mixed signal so we are not gonna believe on RSI At all, better to look other factors including sentiment, volume behind the Orderbook and people's reaction regarding bitcoin movement that could give us a idea atleast what other fellow traders wants to do. Keep in mind sometime traders do opposite than they speak so #DYOR before placing your orders.
Wish you a profitable trading..... GOOD LUCK
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