Bitcoin / US Dollar Index XBT H4 chart The price is on a very critical level. I did draw everything on the chart Blue lines: Weekly resistance The thick red line below: An important and strong support The thick red line above: A large falling trend line ( this must pass in order for the ascension to continue strongly ) There are two possibilities; 1- He will...
Bitcoin looks quite bearish, just purely from a Wyckoff standpoint (still learning, just posting my ideas so I can track my progress with this new strategy) Does look a bit like redistribution to me, suggesting we have more downside. People can zoom out and see that we are forming a pennant, I agree with that as well, but just by saying it is a pennant doesn't...
For a long time we are in the growth phase, I think a rollback to the support zone 8000-8200 would have been quite logical, we did not check the strong support and a set of new positions for a long time that would have no problem to pour the upper zone 10000-10500
In the 4-hour Heikin Ashi chart is forming a green candle. Still 2 hours and if this candle closes green, it will represent a bullish signal. First target $8,400/8,700 area, and second target $9,350/9,750 area.
BTC-USD has broken the 200-day simple moving average and now is in the proximity of the static support at $7,500 (about). Here is possible to see a bounce of the currency pair, in the last days the volume is decreased and well below the 10-day moving average. However, for a confirm, it needs a green heikin ashi candle (or at least a doji with the close higher the...