Overall Bearish but this Fractal could save Bitcoin.
Updated
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Hello my traders, friends and family. Today I make an important analysis following coherently up my two last analyses on BTCUSD, where first I pointed out the future outcome
in middle to long term of bitcoins price on the daily time-frame and as second the current price action and where we are heading on the 4-hour time-frame.
If you didn't see these analyses already you can see it here:
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This analysis playing an important role to show the possible save from bitcoins bearish outcome with the fractal i found.
The analysis is building a logical continuation to the recent two analyses with other indicators, so i would recommend you to see also the last two. Lets go!
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We are looking at the daily chart and as you can see in my chart there are two fractals which are marked with orange ellipses, one that already played out and
another which is completing now. The fractal which already completed pulled back several times at the 20-EMA before it made an down-pull to the 7300 area, after
this we have seen an massive uptrend which made almost 41.91 %.
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It is important to watch for the 20-EMA (purple) confirmation in this scenario, as the same is pretty similarly happening now, several pull-backs at the 20-EMA before
going down and recovering massively.
As you can see in my last analysis (4-hour chart) we are heading into resistance at the 7300 - 7400 level which is also matching with the 20-EMA.
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When this scenario plays out and we get another pull-back at the 20-EMA we will see good support between 6000 - 6300, which you can watch marked in my chart.
There is also this major support line marked in black in my chart, where we will highly likely get minimum a pull-back when touched.
__________________________________________________________________________________________________________________________________________________________________
Thanks all my friends. Good trading profit in december 2019 ;) Feel to support for more market insight.
Information is only educational and should not be used to take action in the markets!
__________________________________________________________________________________________________________________________________________________________________
Hello my traders, friends and family. Today I make an important analysis following coherently up my two last analyses on BTCUSD, where first I pointed out the future outcome
in middle to long term of bitcoins price on the daily time-frame and as second the current price action and where we are heading on the 4-hour time-frame.
If you didn't see these analyses already you can see it here:
__________________________________________________________________________________________________________________________________________________________________
This analysis playing an important role to show the possible save from bitcoins bearish outcome with the fractal i found.
The analysis is building a logical continuation to the recent two analyses with other indicators, so i would recommend you to see also the last two. Lets go!
__________________________________________________________________________________________________________________________________________________________________
We are looking at the daily chart and as you can see in my chart there are two fractals which are marked with orange ellipses, one that already played out and
another which is completing now. The fractal which already completed pulled back several times at the 20-EMA before it made an down-pull to the 7300 area, after
this we have seen an massive uptrend which made almost 41.91 %.
__________________________________________________________________________________________________________________________________________________________________
It is important to watch for the 20-EMA (purple) confirmation in this scenario, as the same is pretty similarly happening now, several pull-backs at the 20-EMA before
going down and recovering massively.
As you can see in my last analysis (4-hour chart) we are heading into resistance at the 7300 - 7400 level which is also matching with the 20-EMA.
__________________________________________________________________________________________________________________________________________________________________
When this scenario plays out and we get another pull-back at the 20-EMA we will see good support between 6000 - 6300, which you can watch marked in my chart.
There is also this major support line marked in black in my chart, where we will highly likely get minimum a pull-back when touched.
__________________________________________________________________________________________________________________________________________________________________
Thanks all my friends. Good trading profit in december 2019 ;) Feel to support for more market insight.
Information is only educational and should not be used to take action in the markets!
__________________________________________________________________________________________________________________________________________________________________
Note
Got some good bullish upward movementTrade active
Note
Touched 20-EMANote
Information provided is only educational and should not be used to take action in markets.Note
ANALYSIS UPDATE: BITCOIN continued with the completion of the second fractal just below the 20-EMA below which it consolidated to boil up for a breakout into the bullish direction.Once BITCOIN formed the breakout into the bullish direction above the 20-EMA it continued with a main bullish wave expansion towards the upper levels.
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