Bitcoin is looking bullish (MONTHLY LEVEL CROSSED)
Hi guys, I hope you are all fine.
I have tried my best to mention all the things using only candlestick analysis and trend line analysis.
IMPORTANT POINTS:
1. 23 July CandleStick has rejected from Fibonacci Level 0.5, which indicates a strong signal for reversal.
2. Candles have broken the Triangular wedge causing it to breakout.
3. Accumulation of 25 days between T3 ( Resistance Trend LINE) & T4 ( Support Trend LINE) causing it to break. As moves after accumulations are always BULLISH.
4. A new candle has formed above monthly level. 21 July candle wicked above monthly level indicates that monthly level was tested. After that, It was broken and retested and rejected from 0.5 FIB level making it a new support.
5. Wait for next candle to get rejected from the monthly support again and it must also wick past T3 (9600-9700 ZONE), so that it can test the resistance at 10,000.
BTC may going to retrace back to monthly level at 9380. If it gets rejected then we may see a bullish move ahead.
Thanks. And stay safe.
I have tried my best to mention all the things using only candlestick analysis and trend line analysis.
IMPORTANT POINTS:
1. 23 July CandleStick has rejected from Fibonacci Level 0.5, which indicates a strong signal for reversal.
2. Candles have broken the Triangular wedge causing it to breakout.
3. Accumulation of 25 days between T3 ( Resistance Trend LINE) & T4 ( Support Trend LINE) causing it to break. As moves after accumulations are always BULLISH.
4. A new candle has formed above monthly level. 21 July candle wicked above monthly level indicates that monthly level was tested. After that, It was broken and retested and rejected from 0.5 FIB level making it a new support.
5. Wait for next candle to get rejected from the monthly support again and it must also wick past T3 (9600-9700 ZONE), so that it can test the resistance at 10,000.
BTC may going to retrace back to monthly level at 9380. If it gets rejected then we may see a bullish move ahead.
Thanks. And stay safe.
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