Bitcoin analysis - 09/09/2021
Hello everyone
This is the move I expect from bitcoin for the next few weeks and months.
I currently expect bitcoin price to drop to around 38,400 (fiibonacci level 61.8 (green)), before taking a bullish momentum to new ATHs.
The price has rejected 50% of the parallel channel rejecting the 61.8 fibonacci level (blue)).
In the daily structure the price has broken the bullish channel, now we expect the price to rise to the 61.8 fibonacci level (fibo blue right 1D chart) and then reject that level to take a downward momentum to 38400 (the level at which in weekly chart we expect purchases)
The price of the stochastic in 1 week is overbought, in 1D timefram it is in a good buying zone near level 20.
The Rsi in 1 week has formed divergences and is above the 50 level with the possibility of falling to the 30-40 level, in 1D timeframe it is below the 50 level with a possible trend change.
Trader Dark Eyes
This is the move I expect from bitcoin for the next few weeks and months.
I currently expect bitcoin price to drop to around 38,400 (fiibonacci level 61.8 (green)), before taking a bullish momentum to new ATHs.
The price has rejected 50% of the parallel channel rejecting the 61.8 fibonacci level (blue)).
In the daily structure the price has broken the bullish channel, now we expect the price to rise to the 61.8 fibonacci level (fibo blue right 1D chart) and then reject that level to take a downward momentum to 38400 (the level at which in weekly chart we expect purchases)
The price of the stochastic in 1 week is overbought, in 1D timefram it is in a good buying zone near level 20.
The Rsi in 1 week has formed divergences and is above the 50 level with the possibility of falling to the 30-40 level, in 1D timeframe it is below the 50 level with a possible trend change.
Trader Dark Eyes
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