BTC/USD - 4H Chart - Technical Analysis 26/02/18 Dear Viewers,
I previously made a 1D Chart TA, now I added the 4h Chart TA.
Let's get right into it !
As we can see, bitcoin is still in a Bearish mood, we can see that thanks to the RSI still being under 50 BUT the MACD is about to cross upwards on the daily charts. This might change the mood on a hourly basis, but the MACD on the 1D chart is still crossing downwards.
There is a possibility that bitcoin drops furthermore towards the 8.5k if it can't get to the next important resistance level which is 10k. As you can see the yellow triangle show us bitcoin path, it could go down to 8.5k if it doesn't break out of it. If it does, the Bullish with make war to the 10k Resistance.
We will start seeing a real certified bullish mood if bitcoin breaks the red dotted resistance level it failed to break before, but in order to make that happen, it has to get threw a few resistance levels I marked with purple lines. For now my mood is to short, as is other technical analysis, do keep an eye on bitcoin if it breaks through these 3 resistance levels, that shows us that the bullish are trying hard to get past that huge resistance level at 10k.
I would not trade anything at this moment, the market is, as always, unpredictable.
The only thing we can do is to try to figure out WHAT COULD HAPPEN.
Thanks for reviewing my first analysis on trading view, don't forget to leave behind any comments on what you think about this Technical Analysis without ABCD waves, and other tools.
Raw_Blitz out.
