Bitcoin: Quick Dip And Then A Pump?
Daily Bitcoin analysis
Red dot on the 1D, but that might not be a big deal. Let's see what Bitcoin wants to do short-term. VWAP momo crossing to the upside, Wolfpack in the green curving slightly up. We bounced right off the 21D MA again, establishing it as a support so far. Technically right under the previous channel trend line, but maybe we're just working our way back above it. If we can establish above this trend line again that would be bullish af IMO. Right now I'm okay with where we are. The rd does not bother me much.
4H we've got good signs in my opinion. Green dot with Momentum stabilizing up. Got a pump last night with the VWAP cross to the upside. MF still looking good. WP in the green. Everything's not perfect, but it doesn't seem bearish to me at all short-term. We are right underneath the daily trend line that has given us reactions before, but as long as you're not trying to long the house right HERE, you should be alright. Take and secure profits along the way.
We dumped on the 3rd all the way down to 56500 area, pumped the 4th but only didn't make it all the way back up, only to 58500, then dumped, but only to 56800 area, making a higher low. Then we pumped already past the high from yesterday, making a higher high. Short-term bullish IMO and longer-term if we can break the 59500 level next.
Short-term bullish, but 1H on MC kind of looks like it's topped for a bit and wants to retrace, which is beautiful for buying the dip for an entry. If we just use the standard fib retracement levels for the low to high from last night, we could put orders in just above the 0.236, 0.382, and 0.5, and that's exactly what I did. Maybe we fall to the 1H EMA ribbon? Maybe we only go 3/4? But bullish for now. Might be a scalp and we get rejected at the orange line again, maybe we run.
24m shows me the same thing, a dip and then a pump.
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Red dot on the 1D, but that might not be a big deal. Let's see what Bitcoin wants to do short-term. VWAP momo crossing to the upside, Wolfpack in the green curving slightly up. We bounced right off the 21D MA again, establishing it as a support so far. Technically right under the previous channel trend line, but maybe we're just working our way back above it. If we can establish above this trend line again that would be bullish af IMO. Right now I'm okay with where we are. The rd does not bother me much.
4H we've got good signs in my opinion. Green dot with Momentum stabilizing up. Got a pump last night with the VWAP cross to the upside. MF still looking good. WP in the green. Everything's not perfect, but it doesn't seem bearish to me at all short-term. We are right underneath the daily trend line that has given us reactions before, but as long as you're not trying to long the house right HERE, you should be alright. Take and secure profits along the way.
We dumped on the 3rd all the way down to 56500 area, pumped the 4th but only didn't make it all the way back up, only to 58500, then dumped, but only to 56800 area, making a higher low. Then we pumped already past the high from yesterday, making a higher high. Short-term bullish IMO and longer-term if we can break the 59500 level next.
Short-term bullish, but 1H on MC kind of looks like it's topped for a bit and wants to retrace, which is beautiful for buying the dip for an entry. If we just use the standard fib retracement levels for the low to high from last night, we could put orders in just above the 0.236, 0.382, and 0.5, and that's exactly what I did. Maybe we fall to the 1H EMA ribbon? Maybe we only go 3/4? But bullish for now. Might be a scalp and we get rejected at the orange line again, maybe we run.
24m shows me the same thing, a dip and then a pump.
If you want to use the best indicator package in the world, which I am using right here, then you need to get Market Cipher. Use the link below to get a 10% discount.
https://marketciphertrading.com?ref=21425
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