It has been a tough time for the bulls since December 2017, when the Bitcoin price peaked to 20K level and the market then fell drastically.
On June 11, we hit a key support level of $ 6600, which have been tested twice back in February and March.
On June 12 we bounced up from our support trend line (bottom blue line) and formed a Bullish Reversal Bar (marked with a green candle and a red circle) on the daily chart, indicating that the market has found support, which is the first signs of a bullish reversal.
The RSI is moving in a oversold zone and supports the possibility of a trend reversal.
The AC (looks like MACD) is moving near the zero-line. If we move above 69 level, bulls will be the strongest and a green bar will show a change in momentum indication buyers entering the market.
Entry level
6962 just above the Bullish Reversal Bar.
Targets/Resistance
1. 7700
2. 8800
3. 9800
3. 11100
4. MOON
Stop loss
6590
If support does not hold the next support level is 5500.
WeDoCrypto a Danish Business Investing in Crypto Currencies
wedocrypto.com
wedocrypto.dk
On June 11, we hit a key support level of $ 6600, which have been tested twice back in February and March.
On June 12 we bounced up from our support trend line (bottom blue line) and formed a Bullish Reversal Bar (marked with a green candle and a red circle) on the daily chart, indicating that the market has found support, which is the first signs of a bullish reversal.
The RSI is moving in a oversold zone and supports the possibility of a trend reversal.
The AC (looks like MACD) is moving near the zero-line. If we move above 69 level, bulls will be the strongest and a green bar will show a change in momentum indication buyers entering the market.
Entry level
6962 just above the Bullish Reversal Bar.
Targets/Resistance
1. 7700
2. 8800
3. 9800
3. 11100
4. MOON
Stop loss
6590
If support does not hold the next support level is 5500.
WeDoCrypto a Danish Business Investing in Crypto Currencies
wedocrypto.com
wedocrypto.dk
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.
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.