LONG! Bitcoins hit current support - BTC ready for up trendBTC has confirmed support on the daily, We have alot of market indecision and have had sideways price movement testing our bull market support.
As investors pre [are to liquidate and take up short positions BTC has failed to experience any confirmation, volume.
Without volume to confirm the price direction when the price has fallen below support the Price has recovered on all charts up to daily with backtest
We have the appearance of a Morning star Doji candle on the daily with the body above the star (rising) that should Boost Confidence and get us back above !68k
Watch for the daily close to close above open
I am getting in position with a long currently, and will maintain tight stops but am confident to trade at this level
Bullishcandle
QI/BTC Inverted Hammer On Monthly TimeframeBullish candle could be signaling a reversal on this pair.
Bullish Candle Close ! Here We Go ! FET/BTC #FET $FET #FetchAIGreat news for FET ! After that pullback we've finally closed a candle that breaks above our downward trendline . This looks Bullish -and good to continue up. We will be revisiting that 1550 area again it seems . But will we finally break through it ? It will be our 3rd time now to hit that resistance there . Will we break through it this time ? 3rd time's a charm ! Let's see ! After we break through that 1550 area I would expect us to hit 2000 or so and then go towards our Cup & Handle target near 2890 . Weekly resistance is near 3200 sats and our .236 fib is 3420 . Above that is fib targets which I will link in my chart below from March . Notice we hit a TD Sequential 9 in red going donward but that last Number 9 candle is actually turning green as well as breaking above that trendline ! You can see it where the green arrow is pointing on my chart . That's our turnaround candle ! This looks absolutely good to continue up as well as having great fundamentals and a great team at Fetch AI .
ALPHAUSD AnalysisReasons to sell
Strong resistance level at $1.90 - $2.00 currently being rejected once again with a 4th touch.
Looks like there was a fake-out move around the 23rd-24th March with price breaking out of the strong resistance level previously mentioned.
Weekend (saturday) and nearing end of monthly candle closure where a correction usually happens
Reasons to buy
Strong daily candle close the day before on the Friday (same day as options expiry)
Options expired so selling pressure has gone
Still testing the Strong resistance turned support level at $1.81
Bitcoin USD Entry Review As described on the previous idea Bitcoin has hitted a strong support level.
Here is a example what it would of been a great entry.
On the 1 hour TF the market had given us a Bullish Engulfing candlestick formation with a increase in volume and after that the market went up.
Alway wait for the right entry.
Here it was:
1) Bullish Candlestick Formation
2) Increase In Volume
3) Daily Support