A Simpler BITCOIN [BTCUSD] AnalysisThis daily chart analysis couldn't get any simpler. Price will either respect these high concentration zones or fail them.
Qingcapital
Sitting Tight with Cryptocurrencies - Bitcoin AnalysisContrary to my normal technical analysis, I've added common Moving Averages used by Hedge Funds on the Daily Chart. Price is clearly below all of them, with a strong break below the most recent Support Zone, which I've labeled "Current Resistance".
My previous analysis notated that Zone as a possible support level, which we have now clearly broken through. Therefore, I don't plan to add anymore crypto to my positions until we have reached the next Potential Support Zone, which I have labeled.
Crypto & Stocks are a waiting game right now, so don't panic or FOMO any positions. Take this time to get better at your analysis process & save money to invest, so you are ready when others are faked out. -@JilianToree
Bitcoin support levels reached & heldIf you've been holding out on Bitcoin, here are the levels a smart trader would be buying. We've finally reached a level on the chart where history has shown high demand, as marked by my white circles.
This analysis is strictly Technical, as Fundamentals don't matter once you get to high demand levels that are watched by Top Traders.
I won't predict a new high or breakouts, but I will say that history has proven that levels like this are very strong & highly predictable, based on my technical experience.
If you're willing to swing trade this move, I'd be looking to take profits around the $38,350 level.
Bitcoin Breakout, going longBTC has found support & given us a very bullish candle to breakout of the bounce at support. See all my previous BTCUSD analysis'.
