1) RSI Showed a Bearish Divergence
2) Strong "Support become Resistance" on Weekly TF haven't been broken.
to contradict bearish bias, price need to break above 32000 with high volume.
probably gonna look like this...
1 last leg to the upside with lower high on the RSI...
DISCLAIMER : I'm not a financial advisor. Everything I shared, is my opinions & what I do in real trade.
You should not make a trade solely based on my analysis
Market is a volatile place, be sure to make your own analysis and judgement..
23K support did not hold, the strongest after that is at 21.4K-22K
Currently BTC is in Decsending wedge which signal for bullish,
But 21K-24K support area need to hold,
Once BTC broke upward from this pattern, buying opportunity is on the next retest after it break pattern.
DISCLAIMER : I'm not a financial advisor. Everything I shared, is my opinions & what I...
just an idea for medium term BTC
looking at how BTC has react on recently called bear flag & invalidated that pattern, it is in my view preparing for bullish move.
DISCLAIMER : I'm not a financial advisor. Everything I shared, is my opinions & what I do in real trade.
You should not make a trade solely based on my analysis
Market is a volatile place, be sure to...
1) BTC has reach important Resistance 23K level
2) All it needs now breaking 23K level & Retest-Hold support
DISCLAIMER : I'm not a financial advisor. Everything I shared, is my opinions & what I do in real trade.
You should not make a trade solely based on my analysis
Market is a volatile place, be sure to make your own analysis and judgement..
BTC have broke 2021 low on weekly TF with Strong cadlestick.
Expect more downward movement.
Probably Catipulation towards 19.5K-20K level..
On Weekly TF, RSI also still above oversold area, which gives some probability of downwards movement.
DISCLAIMER : I'm not a financial advisor. Everything I shared, is my opinions & what I do in real trade.
You should not...
Strong rally to the upside. As usual, after a strong rally, there could be a retest/ correction to nearest support or just ranging sideways
Anyhow, here are the possibilities
Short Term (BULLISH)
1) Retest to 41K zone & bounce with high volume
2) Ranging at current level 43K and continue the Bullrun
Medium Term (Still Undecided)
1) Unless we break 45K then it...
Alright BTC broke small resistance. In my opinion, this at least will trigger a short term bullish movement
1) Although volume is not too high, but it does produced an impulsive candlestick
2) Broke small resistance between 42.9K - 43K
3) Broke Daily EMA 34
Now we need to wait for confirmation; either:
1) Retest and hold 43K Resistance become support (RBS)
2)...
Alright, looks like with all the situation with Russia - Ukraine BTC is also taking a hit.
POSSIBILITIES
1) A sustain bounce from current level (35K) which is a zone of Monthly Downtrend Trendline
2) A double bottom, given that we are entering weekend
3) A further downward movement to 31K-30K of May-July 2021 low
In term of volume, BTC do have fairly good...
First Probability (Bearish) : Looking at the current candlestick behaviour, it is not too bullish.
1) Volume is low
2) Failed impulsive bull candlestick
3) Does not really get in the support zone although volume is low
To invalidate this bearish probability BTC need to breal 43K small Resistance zone
Second Probability : BTC slowly climb breaking 43K zone,...
Alright, so this is my thought on BTC
1) BTC has move upward since the last week (Short term cool down expected)
2) Now reached Resistance Zone Between 44K-45K (Need to wait for price reaction)
3) Volume is getting smaller
4) RSI shows overbought on 4Hr TF
Now, the situation given on the chart are the possibilities BTC might do. But my honest opinion we might...
Looking at technical... there is a strong rejection that needs to be consider and also a trend line that have been reach.. For me, US30 still need time...
My sentimen is still bearish at the moment..
The trend is upside and currently going down to a strong resistence that used to consolidate between 120.625 & 120.322.. could be a short term BUY.. Wait for confirmation before entering the trade..
Trade safely, Wisely & Patiently..
Happy Hunting guys..
