Bitcoin - Outlook ✅
Updated
Let's see how BTC is behaving.
This is a 4H chart. (Mid Term)
BTC, like most other coins, is down on support.
If a crash happens, the price will likely land on the solid support.
There are two resistance areas on the way up, which will push down prices.
It is possible for Bitcoin to have another crash any hour now.
Support levels: $38150
Resistance Area: $40350
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing STRONG SELL volumes for BTC.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that BTC is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $
Let me know your ideas.
Good luck.
This is a 4H chart. (Mid Term)
BTC, like most other coins, is down on support.
If a crash happens, the price will likely land on the solid support.
There are two resistance areas on the way up, which will push down prices.
It is possible for Bitcoin to have another crash any hour now.
Support levels: $38150
Resistance Area: $40350
Bollinger Bands can work as support and resistance too. Here is an example:
The market is showing STRONG SELL volumes for BTC.
Two resistance levels push down on value, and one support level holds the price high and shows strength. The higher band can work as resistance.
The Middle Bollinger Band can push down the value, and the Lower band pushes the price up.
If the price crosses the local resistance and stays above it for confirmation, we can open our long positions, aim for the next resistance, and use it as a TP point.
The RSI shows that BTC is below the 50 levels, the center.
If you want to know how the RSI indicator works, take a look at this Educational Idea. It'll help you have better readings:
Current Market Price: $
Let me know your ideas.
Good luck.
Trade closed: target reached
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