BTC Bullish momentum, can it hold 6,450 level
1. There is bullish momentum holding the price level above the 6,450 support level but much resistance around the 6,500 price level.
2. The daily candlestick is tempting resistance of the 55 EMA, bitcoin must close above the 55 EMA in order to keep bullish momentum.
3. If the 55 EMA is rejected and bitcoin cannot pass thru resistance levels, we can see retracements down to the 6,250 price level and further down to the 6,000 and 5,800 price level.
4. MACD, TRIX and STOCHASTIC are all showing bullish momentum (I use indicators for confluence) not to predict price action.
5. If Bitcoin can close green, this will be the 3rd consecutive green day.
Below are some illustrations on where I believe price action may fall, or break thru to over the next month, leave a comment if you agree or disagree and why
Looking back to JULY 14, this is the same set up on the daily when it broke thru the VWAP indicator and started the last small wave to 8,400.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
Bitcoin current price 6,470
Completed 9:42 (UTC – 7 ) LOS ANGELES
FEEL FREE TO LEAVE A LIKE OR FOLLOW! COMMENT YOUR CHARTS AND IDEAS.
2. The daily candlestick is tempting resistance of the 55 EMA, bitcoin must close above the 55 EMA in order to keep bullish momentum.
3. If the 55 EMA is rejected and bitcoin cannot pass thru resistance levels, we can see retracements down to the 6,250 price level and further down to the 6,000 and 5,800 price level.
4. MACD, TRIX and STOCHASTIC are all showing bullish momentum (I use indicators for confluence) not to predict price action.
5. If Bitcoin can close green, this will be the 3rd consecutive green day.
Below are some illustrations on where I believe price action may fall, or break thru to over the next month, leave a comment if you agree or disagree and why
Looking back to JULY 14, this is the same set up on the daily when it broke thru the VWAP indicator and started the last small wave to 8,400.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
Bitcoin current price 6,470
Completed 9:42 (UTC – 7 ) LOS ANGELES
FEEL FREE TO LEAVE A LIKE OR FOLLOW! COMMENT YOUR CHARTS AND IDEAS.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.