BITCOIN MARKET UPDATE
Updated
Taking into consideration the recent news that Binance will be suspending trading for US citizens, many alts have dumped considerably
Not to mention we already warned in the last update that altcoins look BAD and that we won't be posting many signals for them and to look for LOW BIDS if you'll be entering
Our gut-feeling was right as proper Technical Analysis always comes before news
For now, stay out of altcoins if you haven't entered any and only look for very low bids and far away supports to get the best buys
Don't market-smash!
BITCOIN UPDATE:
Bitcoin so far is completely respecting our analysis and approaching 8450 as we have been mentioning for the past week or so that it will be a crucial decision-making point.
As the chart illustrates, any close above the monthly open will leave me with a bullish taste, but any rejection here and we might be looking our for a dump to 7800 again
A dump to 7500 though and the likelihood of a lower low increases as 7800 would then provide resistance rather than support
In conclusion:
- Close above 8550, next stop 8770
- Reject that level and you dump
Will be posting a new update as soon as I see signs of rejection or signs of a bullish close, stay tuned for more updates!
Get world top class crypto traders private technical analysis with signals central . Check my review from my website here binanceacademy.host
Not to mention we already warned in the last update that altcoins look BAD and that we won't be posting many signals for them and to look for LOW BIDS if you'll be entering
Our gut-feeling was right as proper Technical Analysis always comes before news
For now, stay out of altcoins if you haven't entered any and only look for very low bids and far away supports to get the best buys
Don't market-smash!
BITCOIN UPDATE:
Bitcoin so far is completely respecting our analysis and approaching 8450 as we have been mentioning for the past week or so that it will be a crucial decision-making point.
As the chart illustrates, any close above the monthly open will leave me with a bullish taste, but any rejection here and we might be looking our for a dump to 7800 again
A dump to 7500 though and the likelihood of a lower low increases as 7800 would then provide resistance rather than support
In conclusion:
- Close above 8550, next stop 8770
- Reject that level and you dump
Will be posting a new update as soon as I see signs of rejection or signs of a bullish close, stay tuned for more updates!
Get world top class crypto traders private technical analysis with signals central . Check my review from my website here binanceacademy.host
Note
Get world top class crypto traders private technical analysis with signals central . Check my review from my website here binanceacademy.hostNote
Booked some more profit at 8600.Majority of position is still open though.
Stop loss moved to 8320
Note
BTC $220 up,.. Now in between weak support and resistance soo tough to say..You Can take some profit or increase stop loss if you want..
It may test the resistance at 8810-8900
9070 isnt my final target, I'll keep moving my stop up at new invalidation levels.
I could see this go to 11k
Note
Bitcoin breaking out above our 8300$ Resistance earlier voiding the potential h&s we detected earlier this week immediately having a negative effect on the altcoin market, with the Binance news also assisting the altcoin sell-off. This breakout led to an immediate bullish continuation, reaching a high of 8750$ where bitcoin seems to be cooling off; a break above 8800$ would almost certainly lead btc to make a new yearly high(over 9000). Old resistance at 8300$ has now flipped into support and should provide some good support for bitcoin in the case of a pullback; this support is also coinciding with our 9ema, which bitcoin has regained control of(bullish). Our outlook remains bullish on Bitcoin after voiding this h&s and expect it to grind its way to this 10k region; Our key support to remain above midterm is 7200$.Supports and Resistances
Supports : 8300$-8100$-7700$
Current Resistances: 8800$-9300$-10000$
Check details: binanceacademy.host
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