$BTC #bitcoin update

$BTC #bitcoin is currently testing important levels and it is currently a watch for me.

Just did some historical analysis during the last bear 2013-14 and the current scenarios that can play out during upcoming weeks for #BTC

Zoomed in view:

Comment:

#Btc currently testing the broken 200ema-1D as support.
Support at 7779 and at the 9ema-1D and 55ema-4H: 7730

Short term view: If the support at the green box holds good then #btc will be looking to target 8.5k-9k region during this week and looking to give weekly close above the 50MA weekly at 8353, however if the support fails then we can expect retracements till the support confluence at 7300-7400 consisting of long term trendline and the 0.382fib

Mid-term view: If we get a "confirmed" break of the 200DMA and 50MA weekly then bitcoin will be looking to target 11k and 14k levels. else if the resistance manages to defend higher levels then we can expect btc to test below 6k levels during upcoming weeks

Comment:

#bitcoin : bounce off the support confluence region around the green box! Looking for a bullish 4H close above the 9ema to further confirm bull bias.

Comment:

#bitcoin looking to test important support levels here, 10DMA test yesterday. The 7800 region has been tested twice now. Chances of it holding the next time around are less. I am seeing more chances of a down move here to the 7300-7400 region for a correction.