Chiefrafba

Chiefrafba

BTC continued to perform strongly into the weekly close and open, and this morning it is facing resistance at the $22.4k level which was rejected 10 days ago. This time, there does seem to be more strength and the price is holding this area better. If it can close above $22.5k, the next obvious target would be clearing $23k which would take us out of the range we...

Chiefrafba

Looking at the BTC 4h chart, we have seen the EMA20 (red line) cross the EMA 50 (orange line), but so far this has not created any real momentum to push us over the resistance level which remains the same- between $20.5k-$20.8k. A pullback to $20k could be an interesting area to consider a position, as this would be a trendline re-test as well as an EMA retest.

Chiefrafba

Market Update- As BTC was sitting at $20k for most of the day yesterday, with no bounce it is not surprising to see the price moving down where it is currently in our next support zone which we have mentioned. We have not seen much of a bounce from $19.2k yet either, so it is looking pretty weak and a test of $18.8k looks likely.

Chiefrafba

Looking at the BTC daily chart, we can see that the price is struggling to hold above the EMA50 ($58.9k). An ideal situation for BTC is that we can close the daily above this. If not and we continue to see a drop in price, the area to watch out for a reaction would be $54.6k-$53.6k. This is our EMA100 level and our key fib level which has previously acted as support.

Chiefrafba

BTC is continuing to trading in the same range as yesterday. We are at exactly the EMA20 level on the 4 hour chart. For a Bullish continuation, we are looking to regain the EMA50 ($60.2k) and EMA200 ($60.6k.)

Chiefrafba

Since BTC began to dip in the early hours of yesterday morning, we have seen it fall in to the demand zone. We saw a strong reaction from the $58.5k area earlier and it did not take long to regain $60k. This is the first time that BTC has traded below the 200 EMA since it started its strong move up in the first days of October. This is our next key level. If we...

Chiefrafba

Over the last few candles we can see that BTC has broken out of the resistance zone, and is re-testing that level as good support. If we can continue with a successful retest and move up, our next resistance level is $68k.

Chiefrafba

Currently sitting around $64.3k, the position is neutral for both Bulls and Bears who are watching for a bigger volume move in their direction for confirmation. Our next resistance is $64.9k which if broken and a candle closes above we could move up to test ATH again. Current sentiment is slightly more negative than positive, which is not uncommon on a weekend. A...

Chiefrafba

Yesterday we informed our Premium Group of the added risk of opening leveraged trades when BTC is at ATH and in price discovery mode. The point was proven last night with BTC dropping 10% very quickly. We can see from the chart that the bottom of the dip bounced exactly off of the EMA100 (light blue line) and moved quickly above the support that we identified...

Chiefrafba

OMG is a coin that has not really pumped in recent days. 14.40-14.00 looks like a great entry to me. I expect this to test $16+ over the coming days. To account for any short term volatility , you could set a wide SL here of around 13.00 which is below the 200EMA. An area we are very unlikely to test! Great Risk:Reward