Bitcoin Price and Signals overview, short-term prediction
Updated
Hello!
#Bitcoin shows bullish setup, but...
There is 2 Bearish things:
1> RSI and Stoch RSI are overbought
*We should not blindly follow only indicators, so lets see what else we've got for Bitcoin today
2> 7800 Resistance this resistance is important since 2017 from previous bullish rally, as we remember from this level price felt to 5500 in 5days
So keep in mind bearish scenario before enter any trade.
Lets talk about Bullish scenario:
1> 7800 level, is important again to show strength again, like the bullish breakout of 2017 of this level:
2> Bullish Flag pattern: according to TA textbook we have target measured by flagpole - its near 8600 and MA200.
3> MA50 and MA10 Cross: this cross is used to spot early trend-change on Daily charts, so when MA10 cross MA50 in upward direction its a Buy signal.
4> Price trying close above MA100 in Daily chart, this is good signal of strength of bulls.
Not a best time to enter long or short on BTC/USD so better watch for price action after 7800, and I will keep you updated.
#Bitcoin shows bullish setup, but...
There is 2 Bearish things:
1> RSI and Stoch RSI are overbought
*We should not blindly follow only indicators, so lets see what else we've got for Bitcoin today
2> 7800 Resistance this resistance is important since 2017 from previous bullish rally, as we remember from this level price felt to 5500 in 5days
So keep in mind bearish scenario before enter any trade.
Lets talk about Bullish scenario:
1> 7800 level, is important again to show strength again, like the bullish breakout of 2017 of this level:
2> Bullish Flag pattern: according to TA textbook we have target measured by flagpole - its near 8600 and MA200.
3> MA50 and MA10 Cross: this cross is used to spot early trend-change on Daily charts, so when MA10 cross MA50 in upward direction its a Buy signal.
4> Price trying close above MA100 in Daily chart, this is good signal of strength of bulls.
Not a best time to enter long or short on BTC/USD so better watch for price action after 7800, and I will keep you updated.
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#Bitcoin break 7800 on TD Sequential we have number 9 on daily, but we should wait for confirmation as lower timeframes shows bullish continuation (13H 2above the 1, 3 above the 2, 4 above the 3). So we are probably will touch 8600.#Bitcoin weekly chart showing some important Support-Resistance
Note
Share what do you think about current situation around Bitcoin and Altcoins.Who are you? Buyer or Seller?
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SO the crucial point is near, watch for 6800-6700 level to price rebound.
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