Updated

Bitcoin (BTC, XBT) potential hammer reversal

Hammer forming on the daily chart. I picked up some at this level already, watching the close today. Potential hammer reversal. First target is 20 MA (blue), currently at 10750

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Hammer enough? Let's see, very volatile still.

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UP

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Target 20ma @ 10900

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snapshot

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20MA hit

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Expecting dip

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re-bought

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snapshot

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100ma support, last chance for bull run a la 2016 here

snapshot

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The 4hr 20ma was sold off, which is a bearish signal.

snapshot

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Things looking good, let's see what happens over the next few days. Hopefully will stabilise here.

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This is where the first testing resistance is (see channel main chart). Profits here are slim so I will hold for breakout perhaps next week or sell at below breakeven.

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*... sell below at breakeven lol

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Also on:

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.