Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
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Good day Guys! I'm back just to make a quick update on the price of Bitcoin.
Right now, it is safer to trade Bitcoin than Altcoins.
When Bitcoin pumps, altcoins dumps.
When Bitcoin dumps, altcoins dumps.
When Bitcoin is on sideways, altcoins does what it wants.
I'm not feeling well this week end.
So, maybe I can't publicly published some Technical Analysis.
Maybe this is due to sleepless trading nights..
So, It's an extended relaxation for me.
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Technical Analysis
Weekly
There is no sign of weeks of a trend reversal. Bias still on favor of the bulls. But in case of a pullback, $ 19,490.00 is a good buying opportunity.
Daily
There is a bearish divergence on MACD Histogram as one weakness. But I think, It's too little weakness of a trend. In case we go down, $ 24,300.00 is a good buying opportunity. If closed above $ 29,700.00 on daily, more upside to come.
Four Hour
There is bullish convergence and bullish divergence - more likely to go up
One Hour
Price goes down to moving averages then up.
Pullback Levels
The trend still so strong. Every weakness just got ignored. I think the price range from $ 29,890.02 to $ 32,400.08 is a potential top. Right now, I just close 50% of my long position with protected SL at $ 25,000.00. In case bitcoin makes pullback the relevant Fibonacci Levels are the following: (1) 0.236; (2) 0.382; & (3) 0.500. It unlikely for Bitcoin to go closer to the top of wave 1 maybe closer to 2017 ATH is probable.
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Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_____
Good day Guys! I'm back just to make a quick update on the price of Bitcoin.
Right now, it is safer to trade Bitcoin than Altcoins.
When Bitcoin pumps, altcoins dumps.
When Bitcoin dumps, altcoins dumps.
When Bitcoin is on sideways, altcoins does what it wants.
I'm not feeling well this week end.
So, maybe I can't publicly published some Technical Analysis.
Maybe this is due to sleepless trading nights..
So, It's an extended relaxation for me.
____
Technical Analysis
Weekly
There is no sign of weeks of a trend reversal. Bias still on favor of the bulls. But in case of a pullback, $ 19,490.00 is a good buying opportunity.
Daily
There is a bearish divergence on MACD Histogram as one weakness. But I think, It's too little weakness of a trend. In case we go down, $ 24,300.00 is a good buying opportunity. If closed above $ 29,700.00 on daily, more upside to come.
Four Hour
There is bullish convergence and bullish divergence - more likely to go up
One Hour
Price goes down to moving averages then up.
Pullback Levels
The trend still so strong. Every weakness just got ignored. I think the price range from $ 29,890.02 to $ 32,400.08 is a potential top. Right now, I just close 50% of my long position with protected SL at $ 25,000.00. In case bitcoin makes pullback the relevant Fibonacci Levels are the following: (1) 0.236; (2) 0.382; & (3) 0.500. It unlikely for Bitcoin to go closer to the top of wave 1 maybe closer to 2017 ATH is probable.
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
Trade closed: target reached:
I'm now taking a full profit on my previous long positions on Bitcoin. To be honest the current trend is due for a dipper correction as oppose to what I said in my previous technical analysis. I think, It's better to talk pullback levels once there is a price reversal on the current trend. Other traders still call for higher prices but I didn't want to be hype together with them. Just Remember in mind the inverse correlation between US Dollar Index and Bitcoin. In this current situation, the price may still go up as high as $ 49,419.70 as there is no significant bearish indication as of the moment. I think better to stay away on making another position. You know what, only whales can do a very significant price pullback. Let them fire the first shot, before we retail traders follow the flow. So, as of the moment, it's risky to enter a position.
Monthly
Seems like EMA 9 (Green) is closer to 20K
Still a very bullish chart
Weekly
No sign of weakness.
Still favors the bulls.
Buying momentum is increasing.
Daily
From October 2020 until today, the price is so over overbought.
I think, it's a matter of time sellers to step in.
Bearish Divergence on MACD Histogram has gone.
So, still bullish
4HR & 1HR
This why I'm closing my long position but not planning to short because it's risky.
That's all.
_____
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
Monthly
Seems like EMA 9 (Green) is closer to 20K
Still a very bullish chart
Weekly
No sign of weakness.
Still favors the bulls.
Buying momentum is increasing.
Daily
From October 2020 until today, the price is so over overbought.
I think, it's a matter of time sellers to step in.
Bearish Divergence on MACD Histogram has gone.
So, still bullish
4HR & 1HR
This why I'm closing my long position but not planning to short because it's risky.
That's all.
_____
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
