Bitcoin BTCUSD quick update 20DEC19
Updated
hey guys welcome for a short update on Bitcoin BTC
now nothing much change right now cuz as you see Bitcoin is fluctuating between 7050 - 7200
now the key level to watch is still 21 Monthly EMA sitting around 7090 which act as a perfect support zone for prices
notice the upper red zone which is the biggest challenge for bulls to break, any daily close above this level which is between 7200-7350, will confirm the bullish breakout
here we also get 21 daily EMA around 7260
so clearly the area between 7090 - 7260 or 21 DEMA - 21 MEMA is right now the most critical zone which will decide the future price direction
to predict any side will be too quickly to say anything, so its better that we should wait for the price confirmation signal
just keep it simple, a daily close below 21 MEMA is bearish and a daily close above 21 DEMA is bullish, that's it
taking any position for now will be a blind call, and we should avoid taking risk here
meanwhile MACD is suggesting bullish in 1h chart but e also need to wait for 4h chart confirmation
here's my custom RSI try to approaching towards the red zone in hourly chart, but i'll wait for 4h chart confirmation
that's all for now, if you like my work than do support me with your followings, comments and likes
this keeps me boosted with confidence to keep bringing new ideas for you:)
this is Husain, signing out...
thakyou
now nothing much change right now cuz as you see Bitcoin is fluctuating between 7050 - 7200
now the key level to watch is still 21 Monthly EMA sitting around 7090 which act as a perfect support zone for prices
notice the upper red zone which is the biggest challenge for bulls to break, any daily close above this level which is between 7200-7350, will confirm the bullish breakout
here we also get 21 daily EMA around 7260
so clearly the area between 7090 - 7260 or 21 DEMA - 21 MEMA is right now the most critical zone which will decide the future price direction
to predict any side will be too quickly to say anything, so its better that we should wait for the price confirmation signal
just keep it simple, a daily close below 21 MEMA is bearish and a daily close above 21 DEMA is bullish, that's it
taking any position for now will be a blind call, and we should avoid taking risk here
meanwhile MACD is suggesting bullish in 1h chart but e also need to wait for 4h chart confirmation
here's my custom RSI try to approaching towards the red zone in hourly chart, but i'll wait for 4h chart confirmation
that's all for now, if you like my work than do support me with your followings, comments and likes
this keeps me boosted with confidence to keep bringing new ideas for you:)
this is Husain, signing out...
thakyou
Note
finally we made a daily close above 73xx zone as i said here, now what's next, check my latest update for that
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