We can Expect Up-Moves but Bitcoin will Trade into Resistance.
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Hello traders, investors and community. Today I share with you some important details and insights I found out analyzing the bitcoin chart.
We are looking at the 4-hour chart. Let's go!
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As we can see bitcoin made a bad bearish move downward the last days with high momentum and significant volume, as for now we see
bitcoin stabilizing at the 7600 to 8100 range.
The next days I am expecting some up-ward movement as the MACD made a bullish crossover and we see some good bullish momentum.
But be aware! There is also this huge downward channel which shouldn't be ignored! And the momentum with which bitcoin made the
downward moves is signaling also a possible continuation of the downtrend!
We have to watch out for more bullish or bearish signs coming after the small up moves which I am expecting pretty surely. A possible
LONG opportunity is given when bitcoin confirms the range between 7600 to 8100 a second time as support, on the bearish side there
should be kept an eye on the possible bear-flag forming in the channel!
____________________________________________________________________________________________________________________________
Thanks for watching! Feel free to support my idea with a like and follow for more market insight!
Have a nice day my friends. All the best ;)
____________________________________________________________________________________________________________________________
Hello traders, investors and community. Today I share with you some important details and insights I found out analyzing the bitcoin chart.
We are looking at the 4-hour chart. Let's go!
____________________________________________________________________________________________________________________________
As we can see bitcoin made a bad bearish move downward the last days with high momentum and significant volume, as for now we see
bitcoin stabilizing at the 7600 to 8100 range.
The next days I am expecting some up-ward movement as the MACD made a bullish crossover and we see some good bullish momentum.
But be aware! There is also this huge downward channel which shouldn't be ignored! And the momentum with which bitcoin made the
downward moves is signaling also a possible continuation of the downtrend!
We have to watch out for more bullish or bearish signs coming after the small up moves which I am expecting pretty surely. A possible
LONG opportunity is given when bitcoin confirms the range between 7600 to 8100 a second time as support, on the bearish side there
should be kept an eye on the possible bear-flag forming in the channel!
____________________________________________________________________________________________________________________________
Thanks for watching! Feel free to support my idea with a like and follow for more market insight!
Have a nice day my friends. All the best ;)
____________________________________________________________________________________________________________________________
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