Hello Traders,
BTC is in a very critical point of either breaking upwards and end the bearish market or crash. Currently, BTC is facing a strong resistance (the white line). If it passes it, next target is the red downtrend line. I think we are going to test it soon. For BTC to start a bullish movement, it needs to go and stay above the red line. Otherwise, BTC will go down to the areas highlighted in the blue boxes. RSI and MACD are positive. Keep an eye on the volume
For a safe trade, wait for BTC to test the red downtrend line.
BTC is in a very critical point of either breaking upwards and end the bearish market or crash. Currently, BTC is facing a strong resistance (the white line). If it passes it, next target is the red downtrend line. I think we are going to test it soon. For BTC to start a bullish movement, it needs to go and stay above the red line. Otherwise, BTC will go down to the areas highlighted in the blue boxes. RSI and MACD are positive. Keep an eye on the volume
For a safe trade, wait for BTC to test the red downtrend line.
Comment:
BTC reached near 55 & 200 EMA around the selected area, and it's trying to go up but there's no volume.
Comment:
BTC is in the first potential bounce area and its testing the 200MA, the last defense line. If it breaks, we will test 9300 area. on the 4H, BTC has formed a hammer candlestick which is a reversal signal and its touching 20MA
Comment:
BTC went above the short down trending channel, but it seems to be failing to go above the 55EMA. We are probably heading to test the second blue box area.
in 1D BTC is trying o overcome 50 MA. If cleared, it will try to test the red line
Personally, I'm bearish until we go and stay above the red down trending channel.