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t.me/bvcryptoclub
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Bitcoin Analysis:
Weekly:
With the last weekly close we have confirmed a kumo breakout. Right after the weekly close we retraced and perfectly bounced off the top of the cloud and tenkan. This is a very bullish signal.
Previously I was plotting support only using candles from 2019. I will now be factoring in supports from 2018 since we reacted to one of those supports within a $2 range.
We are currently in too strong of a trend to consider high TF RSI divergences so I will be discontinuing charting them.
Daily:
On the daily we fell short of my original target of 9300, but we had a perfect reaction off the golden pocket once again. Bitcoin has been reacting extremely well to fib so I will be continuing to chart those.
Volume is still coming in very heavily as price rises and less as price falls which is bullish.
The daily cloud is still bullish (tenkan above kujin, green kumo, lagging span is not overlapping price) Price is now under the tenkan which makes the signal slightly less bullish.
Hourly:
If you were following along in the group, I had mentioned we remain bearish until this trend line is broken. As soon as the trend line broke, bitcoin made a move directly up to the hourly resistance.
From here I expect a retrace back down to around 10800-10400 then some consolidation before making another move up.
If 11600 is broken the next short-term resistance is 12400.
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Recap:
Overall, we are clearly still bullish, I am expecting a retrace/consolidation in the short/midterm, then for bitcoin to continue higher. The next resistances for high time frames are 16180, 17140 and 19000.
t.me/bvcryptoclub
Message @bvcc_invite_bot on telegram for access to the main channel and Zobot altcoin market scanner. Current price is .0015 BTC/month
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Bitcoin Analysis:
Weekly:
With the last weekly close we have confirmed a kumo breakout. Right after the weekly close we retraced and perfectly bounced off the top of the cloud and tenkan. This is a very bullish signal.
Previously I was plotting support only using candles from 2019. I will now be factoring in supports from 2018 since we reacted to one of those supports within a $2 range.
We are currently in too strong of a trend to consider high TF RSI divergences so I will be discontinuing charting them.
Daily:
On the daily we fell short of my original target of 9300, but we had a perfect reaction off the golden pocket once again. Bitcoin has been reacting extremely well to fib so I will be continuing to chart those.
Volume is still coming in very heavily as price rises and less as price falls which is bullish.
The daily cloud is still bullish (tenkan above kujin, green kumo, lagging span is not overlapping price) Price is now under the tenkan which makes the signal slightly less bullish.
Hourly:
If you were following along in the group, I had mentioned we remain bearish until this trend line is broken. As soon as the trend line broke, bitcoin made a move directly up to the hourly resistance.
From here I expect a retrace back down to around 10800-10400 then some consolidation before making another move up.
If 11600 is broken the next short-term resistance is 12400.
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Recap:
Overall, we are clearly still bullish, I am expecting a retrace/consolidation in the short/midterm, then for bitcoin to continue higher. The next resistances for high time frames are 16180, 17140 and 19000.