Bitcoin throws a curve ball, Golden Cross on 4hr & Daily chart
Updated
So as we build up to the first full moon of March, we leave feburary with bitcoin, throwing up a Golden MA cross on both the 4hr and Daily chart, we only just recently have the Death Cross form and that still potentially needs to play out before the Golden....
looking at the 4hr one here to get an idea of where to take some nice profits and where Bitcoin is headed in next few days, weeks and rest of March
we still not seen a clear break, today got rejected quite clearly at 11k
next supports at 10500 and 10200, if these break we could be in the same shit as last week, a basic kill zone
RSI shows quite oversold, so bearish there but MACD is rising up and expecting it to follow the flow bigger moves around first week of march with that full moon energy but it could go either way here, so im staying neutral for now, but will react quickly if breaks up or down
the fibs are there to show the retracement
so shout out to Tom who is providing DAILY professional Trade Analysis in our telegram chat group and feed, you can join by clicking the link in the signiture below:
here is an example of todays TA:
"BTCUSD 28 February 2018: Price action continued to push north during both UK and NY sessions, continuing with a price pop to near 11k during early Asian trading.
The handle from our cup and handle pattern we are tracking on the daily for the past couple weeks - has nearly completed with stochastics retreating from the key 55 level. We will potentially see more consolidation in this range untill a breakout conventionally marked by a death cross followed by the golden cross.
With bullish sentiment growing across the crypto market as BTC transaction fees drop and Segwit adoption reaches a high of 20% now we can see a stronger fundemental support during Q2."
t.me/BTFDdotcomFEED/782
t.me/BTFDdotcomFEED/777
outlook, headeding downwards to test previous lows and then possible break out and up into the first week or march but if klows dont hold awe could see further downside to 8k areas
trade smart and safe, wear a stop loss!
looking at the 4hr one here to get an idea of where to take some nice profits and where Bitcoin is headed in next few days, weeks and rest of March
we still not seen a clear break, today got rejected quite clearly at 11k
next supports at 10500 and 10200, if these break we could be in the same shit as last week, a basic kill zone
RSI shows quite oversold, so bearish there but MACD is rising up and expecting it to follow the flow bigger moves around first week of march with that full moon energy but it could go either way here, so im staying neutral for now, but will react quickly if breaks up or down
the fibs are there to show the retracement
so shout out to Tom who is providing DAILY professional Trade Analysis in our telegram chat group and feed, you can join by clicking the link in the signiture below:
here is an example of todays TA:
"BTCUSD 28 February 2018: Price action continued to push north during both UK and NY sessions, continuing with a price pop to near 11k during early Asian trading.
The handle from our cup and handle pattern we are tracking on the daily for the past couple weeks - has nearly completed with stochastics retreating from the key 55 level. We will potentially see more consolidation in this range untill a breakout conventionally marked by a death cross followed by the golden cross.
With bullish sentiment growing across the crypto market as BTC transaction fees drop and Segwit adoption reaches a high of 20% now we can see a stronger fundemental support during Q2."
t.me/BTFDdotcomFEED/782
t.me/BTFDdotcomFEED/777
outlook, headeding downwards to test previous lows and then possible break out and up into the first week or march but if klows dont hold awe could see further downside to 8k areas
trade smart and safe, wear a stop loss!
Note
We really need to see a move and close above the 12K level on Bitcoin before we can confident of a new rally higher (potential wave 3 move higher).For now, traders who went long this week at the 10,150 to 10,400 levels, can consider raising their stoploss to 9700-9740 to reduce risk. This is optional of course and aggressive traders who can tolerate more risk can use a wider stop (e.g. below this week's lows).
If bitcoin closes below the lows of this week at 9300 (which is less likely, but it is possible) then this could open the door to further selling pressure towards 8,000-8,200
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