Bitcoin Futures Analysis: Potential for a Bullish Move
Hello everyone,
I am excited to share my first post and my analysis of Bitcoin futures on a daily chart frame. Based on my analysis, I believe that Bitcoin may be on track to fill the gap at 28,740$, however, there are some important factors to consider.
One of the key indicators that supports my analysis is the Relative Strength Index (RSI), which is showing a strong bullish divergence. This suggests that momentum is shifting towards the upside, and that there may be a potential for a bullish move in the near future. Additionally, the 50-day moving average is about to cross over the 200-day moving average, which is another bullish signal.
However, it is important to note that if we break below 21,450$, this analysis may no longer be valid.
If someone is looking to trade based on this analysis, they should wait for the price to break over 22,700$ before going long. It is also important to keep in mind that the most important resistance level is around 25,000$, as indicated by my white trend line.
Overall, based on the technical analysis, I believe that there is a strong potential for a bullish move in Bitcoin, with a target of the unfilled gap at 28,740$. However, traders should always do their own research and make informed decisions based on their risk tolerance and investment goals.
I would love to hear your opinions and comments on my analysis. If you found it useful or interesting, feel free to follow my account for future updates and analysis.
I am excited to share my first post and my analysis of Bitcoin futures on a daily chart frame. Based on my analysis, I believe that Bitcoin may be on track to fill the gap at 28,740$, however, there are some important factors to consider.
One of the key indicators that supports my analysis is the Relative Strength Index (RSI), which is showing a strong bullish divergence. This suggests that momentum is shifting towards the upside, and that there may be a potential for a bullish move in the near future. Additionally, the 50-day moving average is about to cross over the 200-day moving average, which is another bullish signal.
However, it is important to note that if we break below 21,450$, this analysis may no longer be valid.
If someone is looking to trade based on this analysis, they should wait for the price to break over 22,700$ before going long. It is also important to keep in mind that the most important resistance level is around 25,000$, as indicated by my white trend line.
Overall, based on the technical analysis, I believe that there is a strong potential for a bullish move in Bitcoin, with a target of the unfilled gap at 28,740$. However, traders should always do their own research and make informed decisions based on their risk tolerance and investment goals.
I would love to hear your opinions and comments on my analysis. If you found it useful or interesting, feel free to follow my account for future updates and analysis.