What we saw recently for Bitcoin (XBTUSD) was a fake breakout. Prices moved above support just to quickly fall back down.
Our previous view/analysis remains valid.
Prices are now trading below MA200 and also below the purple trendline.
Thanks a lot for your...
Here we have another view at Bitcoin (XBTUSD) but this time on the 4h timeframe...
We have multiple lower highs...
We also have some higher lows but the EMAs and MA200 give away the tendency...
If prices were trading above MA200, we would be strongly bullish but in this case, we see prices trading below MA200 (black line) on top of other bearish signals.
Bitcoin breached out of the longer channel and placed in a bearish channel, it is expected to at least touch the bottom of bearish channel. the second target is to decrease equivalently to the size of larger channel width.
Bitcoin (XBTUSD) continues to print weakness while many altcoins are printing strong charts vs Bitcoin... We are likely to drop.
On this chart we have the MACD going below zero while the RSI is now below 40, both looking bearish.
Prices managed to close below EMA10, EMA50, and EMA100.
We also have multiple lower highs...
Even on a bounce, strong resistance is...
We are being supported by the trend-line, stop below the lower support (you can place your stop tighter if you wish), target the top of the ascending triangle and also trail the take profit for a potential breakout to 11.5k
Welcome back enjoy episode Four of my quick fire $btc analysis.
I hope you enjoy.
For personal bias and price direction, my twitter is here where I post what i'm trading daily.
My signal doesnt fire alot. But when it does, it does make me sit up and listen.
I have short signals firing on XBTUSD and ETHUSD.
I went in with a half size since this is a very risky zone which could end up being a fakeout.
In my last trade idea for Bitcoin (XBTUSD), looking at the 4H timeframe, I gave you the direction where Bitcoin was headed next...
Now, I would like to share with you the next target (being a bit more specific).
Here are the support levels where Bitcoin can find resistance if prices continue to drop:
These are short-term...