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BTC can move higher#BTC 1d On a 1-day scale, the market continues to follow the scenario that was published a week ago. At the moment, it is noticeable that the bulls are trying to push the price higher: Stoch RSI pushed off the oversold zone and moves up, MACD will soon show an intersection that will also have a positive impact on price growth. RSI, touching the oversold zone, starts to move up. The asset is ready to grow to the top of the template (although within the reduction correction, although in the case of building a new wave of growth).
COINBASE:BTCUSDLong
by CryptoWolfsTrust
BTC rebound is comingOn a 1-day scale, the market is too oversold: Stoch RSI has pushed its lower limit and is already starting to rebound, RSI in the oversold area, where it can also unfold. Below meets tight support near the level of Fin 0.786, within the cost of 4800-5000, but to decrease further to these levels without a visible correction of the fall (rebound or flat), the market can not, Bitcoin lost 29% of the value in just 17 days. In addition, the price is not the first time approaching the 6000 mark, it is very important that it does not go lower, which indicates good support at current levels. As long as the daylight candle did not close below this level, we still have chances for a further positive development scenario, otherwise closing the candle below will indicate the possibility of further decline.
BITFINEX:BTCUSDLong
by CryptoWolfsTrust
2
#BTC The price tests 50MA, which is a strong resistance.#BTC In the 1-week format, the price tests 50MA, which is a strong resistance. To break through which, probably, the asset does not have enough strength. We can drop to the support level of 8100. In 6-hour format, we can roll back and get correction from the last growth of 61% (Fib 0.618 level), where we will form another impulse to continue the bullish trend. In the 1-week format, MACD intersects and is ready to move up, pulling up the price, as described earlier, Stoch RSI looks bullish. For a further positive scenario, we need to stay in the 8125 zone. If Bitcoin descends to the level of 7900, we do not recommend making a big purchase on deals with alts.
COINBASE:BTCUSD
by CryptoWolfsTrust
BTC after roll back can move higher#BTC The market still needs correction of the growth. On a 1-day scale, overheating is noticeable: the Stoch RSI is ready to drop, and RSI concerns the overbought zone. The decline may occur no less than the 7400 area, where we will be met by a tight support of the downtrend line (which in the recent past was a decisive resistance, the breakdown of which determined the further bullish mood of the market). Larger scales also look positively and demonstrate the possibility of continuing growth. On the weekly chart, all the same bullish flag is actual, Stoch RSI is very bullish with a good margin for further growth, MACD can only begin to intersect and go up. Those. the market looks good for a longer term, but in the medium and small scales it needs correction, we need to cool down and find dense support before moving on. To consider a positive scenario for further development, we need to fix above the resistance of 8500 (for which now the forces are not enough), then we can consider the scenario of further growth, it is quite possible to psychologically significant 10,000. Most alts on this background demonstrate a good opportunity to open long-term investments, but for the medium term, there is a risk of decline along with Bitcoin, as for a short-term positive most of the markets should have already rebounded noticeably. This did not happen, which also indicates the likelihood of the continuation of the rollback of the BTC. At the moment, Ethereum looks safer for both medium-term and long-term investments. Altcoins are ready for the new season of growth, most of them made a corrective rollback of more than 78.6% (which corresponds to the Fibonacci sequence around the resistance of Fib 0.786), as a rule, reaching these marks entails a further turn and buying from the current levels is as safe as possible. In addition, we recommend that you pay attention to new coins that have not yet shown themselves, they can also show good growth during this year.
COINBASE:BTCUSDLong
by CryptoWolfsTrust
2