BTC is testing an important support level at $8,400. If we lose that support level, we could be heading down to the Fib golden pocket at around $7,400. I am going short if we close a 4hr candle below $8,400 with a target of $7,400.
After the break into the descending, I have gone bullish on Bitcoin; however, we will trade between the bottom of the triangle and the 200 day moving average until one is broken. I will be taking a position once we have a decisive move either way, but am overall bullish. Targets are on my chart.
BTC has found some support and the immediate bear trend has lost a bit of steam. We could either find ourselves going down from here, or we could be in for a bounce. I am keeping a close eye on the 200MA on the daily chart - currently around $8,300. If we have a 4hr close back above that level, I will turn bullish . The longer we stay below that value, the...
Volume is dropping off, which I think means we will soon see some significant price action. The key levels that I am looking at are a test of the falling resistance and if successful, I will be looking to go long until about $13,000. If BTC fails to break, then I think we are going to test the resistance at around $9,300. If we break that resistance, I will be...
It looks like a falling wedge that is likely to break very soon as the volume is falling.
I am looking for a 4hr close above 10,200 for a break to the upside, which could run to 10,900. For the downside, I am looking for a break below 9,700 and will be looking to see if it breaks the resistance at around 9,500.
