#Bitcoin I was expecting the dip down to 3800, what it now think
Updated
Today's bitcoin analysis:
Today Bitcoin completed the dip I have been waiting for the last days, I now expect that btc will find support and will test 4k again to see if it can once again try to go bull and confirm buttom was in weeks ago, if Bitcoin do not manage to go bullI will look for a dip from 4000 to 3500 ish
On the 12\h chart Bitcoin has a clearly bearish chart, where rsi and stock rsi show signs of bearish pressure from over bought arenas
If we look at the EMA on 12\h: the 200days EMA is round 3792 therefore I think Bitcoin will find support at this levels here now after this selloff.
Weekly chart: Still looking bullish in my eyes and showing slow but sure signs that more and more buyers are entering the market on this levels, I therefore think Bitcoin will not get this dip down to 2k arena becouse all is waiting for that.
EMA on Weekly: The 7 day EMA has just the same line as 200 day EMA on the 12H chart.
I expect support here on 7 days weekly EMA as bitcoin finally this week managed to break through 7 days of resistance as it behaved as before the price broke through and I think this was an important turning point for Bitcoin
Therefore, I remain bullish until it turns out that the bears is winning again :)
Today Bitcoin completed the dip I have been waiting for the last days, I now expect that btc will find support and will test 4k again to see if it can once again try to go bull and confirm buttom was in weeks ago, if Bitcoin do not manage to go bullI will look for a dip from 4000 to 3500 ish
On the 12\h chart Bitcoin has a clearly bearish chart, where rsi and stock rsi show signs of bearish pressure from over bought arenas
If we look at the EMA on 12\h: the 200days EMA is round 3792 therefore I think Bitcoin will find support at this levels here now after this selloff.
Weekly chart: Still looking bullish in my eyes and showing slow but sure signs that more and more buyers are entering the market on this levels, I therefore think Bitcoin will not get this dip down to 2k arena becouse all is waiting for that.
EMA on Weekly: The 7 day EMA has just the same line as 200 day EMA on the 12H chart.
I expect support here on 7 days weekly EMA as bitcoin finally this week managed to break through 7 days of resistance as it behaved as before the price broke through and I think this was an important turning point for Bitcoin
Therefore, I remain bullish until it turns out that the bears is winning again :)
Trade active
Looks like bitcoin will lose strenght here, so a close stoplimit order is close.
Bitcoin clearly trading in a bearish flag, I therefore expect another leg down atm. Bitcoin Currently holding 200 ema on 6\h chart as support, be prepared for another drop.
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