Pump incoming? Small Bitcoin analysis
Hello,
a lot people are preparing for a dump, but a lot strong support zones are holding bitcoin above right now.
Support:
1. Yellow diagonal fibonacci channel. Starts since the beginning of Bitcoin. Fibonacci 0.786 at $7800 is support.
2. White horizontal fibonacci channel. 0.618 at $7606
3. Daily 377 EMA at ~$7800
4. Weekly 50 EMA at ~7860
4. My indicator "Scalper" is showing me a beautiful falling wedge on the 4 hourly, which is a bullish pattern.
Will share in the comments a Chart in which you can see the whole view of my fibonacci channel
a lot people are preparing for a dump, but a lot strong support zones are holding bitcoin above right now.
Support:
1. Yellow diagonal fibonacci channel. Starts since the beginning of Bitcoin. Fibonacci 0.786 at $7800 is support.
2. White horizontal fibonacci channel. 0.618 at $7606
3. Daily 377 EMA at ~$7800
4. Weekly 50 EMA at ~7860
4. My indicator "Scalper" is showing me a beautiful falling wedge on the 4 hourly, which is a bullish pattern.
Will share in the comments a Chart in which you can see the whole view of my fibonacci channel
Note
As you can see.. the yellow line did break out of that falling wedge.. lets see if this has to mean something. Next close might be interesting
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.