Quick Update on Bitcoin,,
Let me tell you something, don't to be too optimistic until you got a clear vision. BULLS???
A bit simple analysis but this will give you more confidence about what is happening right now in bitcoin.
As you now, my analysis tell you to short, here it is my explanation.
The chart tells me that there are several points that you need to keep in mind. (Bitstamp rate)
BEARISH :
1. Bitcoin price not yet make a higher high from the last top of 13880, lower high has been made with top of 12473.
2. All Moving Average (20, 50, 100, 200) on Daily timeframe is showing a bearish divergence signal. It means that All MA is making a higher high from top 13880 MA, while the price lower.
3. Bear still in control as long the price is not make higher high or higher than 13880. Which mean SHORT SIGNAL.
BULLISH :
1. Overal it looks bullish on weekly TF because of all MA still below the current price.
2. The SAFE bet for bull is when it breaks 13880. Which is beginning of bitcoin bullrun.
That's it, happy trading, stay safe, and clear your vision.
GOOD LUCK
Let me tell you something, don't to be too optimistic until you got a clear vision. BULLS???
A bit simple analysis but this will give you more confidence about what is happening right now in bitcoin.
As you now, my analysis tell you to short, here it is my explanation.
The chart tells me that there are several points that you need to keep in mind. (Bitstamp rate)
BEARISH :
1. Bitcoin price not yet make a higher high from the last top of 13880, lower high has been made with top of 12473.
2. All Moving Average (20, 50, 100, 200) on Daily timeframe is showing a bearish divergence signal. It means that All MA is making a higher high from top 13880 MA, while the price lower.
3. Bear still in control as long the price is not make higher high or higher than 13880. Which mean SHORT SIGNAL.
BULLISH :
1. Overal it looks bullish on weekly TF because of all MA still below the current price.
2. The SAFE bet for bull is when it breaks 13880. Which is beginning of bitcoin bullrun.
That's it, happy trading, stay safe, and clear your vision.
GOOD LUCK