BTC range movements with some positive singsDear Crypto friend, fanatics, addicted, fans, lovers and haters,
quite week end for BTC, probably is time for our lovely crypto to settle and get some quite before the huge pump of end summer, who knows.
Anyway, good sings right now, after some correction, we are undersold on the hour chart and there is a very nice bullish divergence on the RSI.
The Volume is nice not whales driven and naturally and harmonically growing! I can't wait to see the reaction of the market tomorrow.
So for now I would go long and expect a target around 9k-9.5k at least.
Stay tuned and like, share comment if you enjoyed the TA.
*this is just my opinion I'm not a professional advisor! Make your choices wisely and manage your risks!
Btcus
The downtrend channel was broken already 2 days ago, BULLSo, the downtrend channel was broken 2 days ago and it has found support on the EMA 200 and 50. RSI has still room to go up before reaching the overbought area.
I think it's just a matter of time that we will test the 68,5% retrace and break it also.
I don't know many of you have in your chart that was not broken, you probably are using log view.
Simple RippleThis 4-hour chart shows that the 200EMA is acting as resistance.
1) Primary resistance is 200EMA
2) Secondary resistance is .618 FIB
3) Support is structure at .94
4) While we are down, the channel is broken
5) Consolidation trading plans should be considered by traders
6) HODL for the Noobs
7) Major resistance on the way up at .5 and .382 is expected.
Simple is best!