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Btcforecast
$BTC Daily UpdateCRYPTOCAP:BTC #BTC Given resistance at $62,580 in effect, current support at $61,614-$60,951, previous 1D closed bullish, RSI on 4H and 1D in overbought region which could result in support test for short term. Next key resistance areas to watch $63,544, $64,344, $65,521, $66,323-$66,961, $68,546.
$BTC Daily UpdateMIL:BTC #BTC Damn! Look at that! $56K 🔥🔥😎🚀
$52,527 reattempted and busted thru, $56,64 testing! RSI on 4H pumped up, same on 1D too. $54,363 key support here, Next key resistance at $57,792-$58,290, key areas to watch $58,882, $59,788, $60,278, $60,951, $61,674, $62,580.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC $50,579 support in effect, last 4H close looks good, RSI on 1d and 4h also good. Could reattempt to gain $51,630 support. $52,527 test resistance test likely if pennant plays out on short term, continue watching S/R.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC ranging $52,527-$50,579, RSI looks good on 4h, RSI on 1d still in overbought region, last 1D closed good with bullish pin bar, given resistance $52,527 remains strong, key support at $50,579, current support range $51,185-$51,630.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC Given key resistance area at $52,527 holding strong, $51,630-$50,579 current support range, RSI on 4H looking good, previous 1D close looks fine with RSI still in overbought region, Watch given S/R
$BTC Daily UpdateCRYPTOCAP:BTC #BTC Followed thru on bullish pin bar - Given resistance came in effect at $51,630 and built support over it beautifully, same support in effect currently, $52,527 resistance testing, RSI on 1D and 4H in overbought region, next resistance areas $52,932, $53,672, $54,129, $54,772, and $55,901.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC look at that! Given resistance at $50,089 in effect, testing here since over 12 hours now, $49,374 current support, next S/R area $50,579 / $51,630, some resistance at $52,932-$53,672 - $53,672 was a major key support in last rally.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC $44,860 resistance testing. Amazing break from $43,145 key resistance, RSI on 1D looking good, next resistance area to watch at $45,622-$45,876, $44,860 support crucial to hold as this will help reattempt at $47,232 key resistance. $44,174 current support yet to be tested
$BTC Daily UpdateCRYPTOCAP:BTC #BTC $43,145 resisted throughout the weekend, previous 4h close looking good, RSI on 1D and 4H looking good, Current support at $42,070, $44,860 next key resistance. Watch given S/R
$BTC Daily updateCRYPTOCAP:BTC #BTC $43,522 resisted hard, back below $43,145 support, current 4h with bearish engulfing could test $42,070 support if played out, $42,070 & $40,583 next support areas to watch, must regain $44,860.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC $42,070 resisted the climb as expected, currently struggling to gain support from $42,070, $43,145 test approaching. Previous daily close bearish, $41,577 current support. Gaining $43,145 support will help test $44,860.
$BTC Daily updateCRYPTOCAP:BTC #BTC AMEX:GBTC outflows effecting #Bitcoin, $39,458 support came in effect, current 4h with potential bullish engulfing, Previous daily closed bearish, RSI on 4h and 1d close to oversold region, expect a reversal as AMEX:GBTC outflows cool down. $42,070 & $43,145 resistance to watch.
$BTC Daily updateCRYPTOCAP:BTC #BTC on $45,622 support. Previous daily closed good beating bears and FUD as the ETF approval news was cleared, $47,232 key resistance to watch here, $44,860 current key support, watch given key resistance areas and support. RSI on 1d and 4h looking good.
$BTC Daily updateCRYPTOCAP:BTC #BTC $46,623 support in effect, $47,232 resistance holding. Previous 4h closed very good, current 1D looking good, if followed thru on previous daily close expect $47,786-$48,080 test,
Bitcoin ETF hype already pretty visible throughout the market, Jan 10 deadline approaching shortly.
Next key resistances $48,644, $49,734, $50,579, $51,630, $52,932.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC FUD dump followed by negative ETF rumors, trying to regain $43,145, $42,618 current support. Bearish engulfing on previous daily close but should be able to avoid following it up, $44,174 support needed to reattempt $45,622.
Bitcoin → Broke Weekly Resistance! On to $46,000!? Let's Answer.Bitcoin has broken Weekly Resistance at $38,000 and raced to the top of the bull channel around $42,500. Now that the move seems to have played out, what is the next trade?
How do we trade this? 🤔
If you're not already in a long, Do Not Enter the market. We're too close to the bull channel resistance, we haven't tested the previous Weekly Resistance as Support, RSI is over 76.00 and far above the Moving Average. We should remain bullish given the macro trend and that the top of the 2021 Trading Range at $46,000 is at the proposed Measured Move target.
Best to wait for a pullback and find support again, likely around $40,000 at Bull Channel support. A bull signal bar and confirmation candle will give us the necessary probability to enter a 1:2 Risk/Reward Ratio Long.
💡 Trade Idea 💡
Long Entry: $40,700
🟥 Stop Loss: $38,500
✅ Take Profit: $45,100
⚖️ Risk/Reward Ratio: 1:2
🔑 Key Takeaways 🔑
1. Breakout from Previous High Support!
2. Bull Channel, Bias to Long.
3. Weekly Resistance Broken! Possible Measured Move Up.
4. $46,000 Measured Move Lines Up With Lifetime Resistance.
5. RSI over 76.00, Bias to Short for the short-term.
⚠️ Risk Warning! ⚠️
Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!
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$BTC Daily UpdateCRYPTOCAP:BTC #BTC Beautiful climb, $45,622 resistance came in effect, $44,860 support tested and holding good, Bullish engulfing on previous 4h close. Great follow up on bullish engulfing from 31st Dec on Jan 1st, RSI on 1D looking fine. Next key resistance $46,623, $47,232.
$BTC Daily updateCRYPTOCAP:BTC #BTC $41,577 support testing, broke $42,070 support, previous 4h closed bearish, RSI on 4H almost in oversold regions, $40,583 next key support which could be tested for 3rd time since Dec 11, Previous 1D close looks fine, $43,145 will resist.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC Given key support at $42,070 tested as expected and held, regained $43,145 support and testing support as of now, RSI on 4H and 1D looking fine, previous daily closed good regaining $43,145, $43,868-$44,174 continues to resist, watch given S/R
$BTC Daily UpdateCRYPTOCAP:BTC #BTC moving in tight range $44,174-$43,522, bearish engulfing forming on 4h currently, $43,145 support could test. RSI on 1D and 4H looking good, 3rd weekly close approaching with $43,868 resistance. Watch given S/R
$BTC Daily UpdateCRYPTOCAP:BTC #BTC Beautiful break of triangle here, $43,868 resisting, Previous 4H close looks fine, Bullish engulfing on previous 1D close as expected, RSI on 4h and 1d looking great. $44,174 resisted yesterday. $43,145 support looks good, needs to follow up on bullish engulfing.
$BTC Daily UpdateCRYPTOCAP:BTC #BTC $42,070 support in effect, current daily with potential to put bullish engulfing on. Eying $43,145 test. RSI looking good, Low on volume as of now, Green days ahead 🤩🤩! $40,583 key support, $44,174 and $44,860 key resistance areas.
