Bitcoin Bullish on Weekly Time Frame
Updated
Hello Traders, Here in Weekly TimeFrame Bitcoin finally broke this descending channel over a long period
bitcoin is very bullish on the weekly timeframe next potential target will be at 9400-9600 region.
volume is now increased and BTC is trading above 50MA and 200MA. Potential bull market for bitcoin is coming
Note
Note
This might possible to happen for bitcoin when touching this support between 8197-8020 BTC can found good support and start to rally after a pullback.
BTC upward channel still in play and retest back this 200 moving average in the daily timeframe . So, in that case, we expect that bitcoin is just in a normal healthy pullback we can still see the price of bitcoin back to 9k sooner.
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Bitcoin incoming bear cross of 50 Day MA and 100 Day MA at 4H Time Frame looking bearish. if 100MA acting as new resistance
for bitcoin and if BTC cannot hold area above 8500 we can see a dump going back to our old support between 8189 - 8000
region. Priority today SHORT more pressure is coming to the downside in the next 24-72Hours
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Keep an eye for this incoming bear cross of 100MA and 50MA bear cross is a bearish sign and not good for the bulls however sometimes bear cross attract the price going up but most likely bear cross will push the price going down. Stay always manage your risk in each trade put stop-loss to avoid further damage when things might go wrong in your trade. Happy Trading everyone
Note
After 7 Months when bitcoin touch 13,929 region the price dumped up to 6410 which is a -54% drop from the peak of 13k region now finally bitcoin broke this support old trendline on January 06, 2020 making it's first new higher high touched 9193.5 region on January 19, 2020
a healthy pullback is expected between this support region at 8241-7747. We can see our incoming first Golden Cross of this year 2020 crossing 50 Moving Average and 100 Moving Average if the bull can manage to hold this area support between 8241-7800 region inside this upward channel when the pullback is over we can see a bull rally going towards 9k region and making it's 2nd higher high.
If bitcoin drops below strong support at 7676 this upward channel will be invalid and will change the scenario into a bear market of 2020.
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BTC breakout this fallen wedge pattern and broke the trendline. Now BTC needs to hold support between 8400-8300 to confirm more bullish price action.
bitcoin trying to breaks resistance area at 8484-8500 let us see what will happen in the next 24h when weekly candle close above this resistance area.
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Bitcoin is now trying to break through this resistance of 50MA at 8559 region
4H body candle close above 8579-8600 will be more in favor of the bulls. If bitcoin reject at this resistance zone will be a drop back to retest this lower trendline of support at 8442 region
and possible to retest again our old resistance box at 8568. Bitcoin is now showing some bull volume in 4H time frame we can see a large move in the next 24H Let's see if the bull have strength to push the price of BTC up to 8639-8700 region and break out to the upside in this ascending triangle that has a potential target of 8800-8900 region.
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Bitcoin next target 8800-8900 incoming golden cross?
Bitcoin new support at 8628-8538 region BTC needs to hold this support zone we have bullish signs for bitcoin incoming
Golden cross in 4H Time Frame potential target for bitcoin up to 8800-8900 region our next resistance zone.
Priority Today LONG
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Bitcoin Parabolic uptrend
Bitcoin needs to closed 1D candle above 8715 and must able to hold this support trendline to confirmed more bullish price action
Priority today is LONG BTC is now trading above 50MA and 100MA in 4H Time Frame. Our previous analysis was correct
and the golden cross pushed the price of BTC now trading around 8726 Let's wait for another 24h to see if the bulls
still have gas in the tank to make the price of BTC even higher and we have seen now a good bull volume high chance that the bulls control the momentum.
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Bitcoin bulls is just started next target 9200-9500?
Bitcoin bullish setup still in Play priority is LONG due to bullish factors
1. incoming Golden Cross of 50MA & 100MA in 1D Time Frame
2. New support area needs to hold between 9000-8737
3. 200MA now acting as a new support for the price of Bitcoin
4. Bitcoin is now trading above 50MA,100MA and 200MA indicator of a bullish signs.
5. Bitcoin needs to hold this support trend line at 9000 region
*Our Major Key Resistance Area between 9267-9588 plus resistance trend line at 9300-9660 region somehow bitcoin possible to reject at this region if the bulls can pump the price up to this level.
Volume on 1D Time Frame starts to increased and green dot showing on our indicator that the bull is in play.
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Bitcoin pullback incoming?
Bitcoin rejected from resistance area and showing double top rejection pullback in coming back to our support area between
8796.5-8670.5 region.Must hold support with this trend line potential bounce back after a pullback to form
a bullish ascending triangle.
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Bitcoin CME Futures open a Gap potential dump incoming?
Bitcoin CME futures now showing a gap between 9245-9115 region we have a decrease in volume at 4H time frame possible incoming
pullback around this support region at 9035-8870 to fill the Gap let's wait 24H if this Gap will attract the price of bitcoin . Priority today is Short
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Bitcoin Potential dump to support?
Bitcoin today have tried the price reached up to 9616 but getting rejected with resistance now looking more bearish
in the short term potential pullback will retest our trend-line support at 8840 region when the price reaches this level
and manage to hold we can potential bull rally to test back up to 9400-9600 region again, for now, I expect a healthy correction
before another rally upward.
Stay safe and trade cautiously
Note
Hello, guys now bitcoin showing a nice bull break from 9250 and the price up to 9780 region which is a 6% gained. We have a little pullback with a new support area between 9610-9493 and the next potential target for the bull around the 9800-10k region for the next bull rally. I think this bullish uptrend will continue as long the price will not break below the green line trend line .
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BTC UPDATE DUMP?
Bitcoin is now getting pressure potential dump incoming if BTC rejects from area of
resistance between 9810-9880 potential drop to 9665-9500 region. Let's see if the bears can
push the price to test our minor support at 9661 region.
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Bitcoins is in a parabolic Stage next moonshot 10500-11k?
Bitcoin loves to hold this support trend-line target for the next wave will be at the 10500-11k region. FOMO comes in if there is more news for bitcoin more FOMO people will come newbie will enter the market and start of another bull run
for bitcoin . just always keep an eye for the support trend-line whenever bitcoin touch this area.
Note
Bitcoin DOUBLE TOP Rejection? Bearish
Bitcoin rejected at 10475-10537.5 region we have a double top rejection which is a bearish sign,
potential dump to support area at 10013.5 region to retest trendline support Let's see if bitcoin can hold our first minor support area at 10093.
if bitcoin will not breaking trend-line support between 10093-9916 bullish channel still valid but once bitcoin did not hold our support potential change the trend to a downward channel.
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