I previously identified 2 resistance levels for you, which still stand. Whilst we pierced through and closed above R1 the Buyers are struggling to hold R1 as sellers push them under R1 level once again. You all know, I am big move trader who seeks bigger profit runs, with clearly defined moves and clearly defined stop losses. With other indicators telling us that...
As long as this support is holding, the bull trend will continue. If candles start to close bellow this support, a shift in the market could happen fairly quickly.
Got a nice falling wedge here signalling the end of the bloodbath BCY had at the start of October, just worried about the lack of volume. Expecting the price to drop down to the lower support level, where I'm planning to buy around 3k sats. The first target is based on the upper resistance of the wedge, and the second on the resistance from August.
We need to pop and hold the $1,000 physiological barrier, which we´ve done today (Sunday 26th March ´17). Congrats to Bitcoin bulls by the way, it´s good to have you back. The next price level i´m looking at to take profits is around the $1,039, (Fib 38.2 sweet spot) level. This idea is just a quick one I wanted to share. If you have any questions please ask...
There are many bearish signals adding up all at once on the hourly time-trame. Moving averages, recent trend-lines and price structure suggest that the sentiment is "down-trend". On top of that, we find some nice confluence between price resistance zones (yellow boxes) and important fib-retracement levels of the most recent price swing (61.8% and 78.6%, specifically).