ChaseCapital

ChaseCapital

Bitcoin has found support at the 4H 50MA, and is currently trending upwards at ~10,700 USD. Upcoming resistance areas are very crucial for BTC. If the buyers can push it over the 11,000 levels; we turn bullish and go for the 12k break. However if we fail to break the 11k area, there is a strong possibility of a Head and Shoulder pattern forming, which will put us...

ChaseCapital

Bitcoin has not only broken out the top of the ascending channel, it has also pierced the overall bear trend line. This is a great indication of sentiment w.r.t Bitcoin, and the likelihood of this rise being a massive bull trap diminishes by the day. Shorts getting liquidated left and right. Next 24 hours will be very interesting. Watching like a hawk.

ChaseCapital Updated 

At the time of writing, Bitcoin is facing resistance at the 4H 200MA. However there is a clear channel BTC has formed since the bounce at the 5.9k USD area. Keeping this channel on watch into the next week or two so we can see if BTC holds it, or breaks above or below.

ChaseCapital Updated 

Bitcoin has clearly broken down from the bearish pennant, as the bottom trend-line has failed to hold. Currently has support at the 4H 50MA. We need to see if this holds, else we go back down w.r.t the overall bearish trend. If this support fails, I will be opening a short position.