BTC/USD - Confirmed Buy Opportunity
What's up traders,
Here we are analyzing BTC/USD on the 4H chart.
I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed now, hence I am eager to update this idea.
At current, price is trading at 8520, supporting on the 20 moving average, and the 20 moving average is above the 50, suggesting a legitimate bullish presence.
Price will now likely test the moving averages and use them as a new support level. Coupled with the fact we have a minor structure support, we could see price go to the upside target at 12130.
I am expecting Bitcoin to recover lost ground now as the trend is having a legitimate turn.
Bare in mind, thatI am predicting a longer term bull presence.
I will update this analysis when I receive above 40 likes.
Here we are analyzing BTC/USD on the 4H chart.
I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed now, hence I am eager to update this idea.
At current, price is trading at 8520, supporting on the 20 moving average, and the 20 moving average is above the 50, suggesting a legitimate bullish presence.
Price will now likely test the moving averages and use them as a new support level. Coupled with the fact we have a minor structure support, we could see price go to the upside target at 12130.
I am expecting Bitcoin to recover lost ground now as the trend is having a legitimate turn.
Bare in mind, thatI am predicting a longer term bull presence.
I will update this analysis when I receive above 40 likes.
Related publications
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.