Bitcoin Starts To Recover, New Target Is Set At...

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Yesterday we marked a new higher low for Bitcoin compared to the June 22 candle-wick.

The day is starting with good momentum with prices recovering strong... Here is the 4H chart:
The volume is really strong and prices went from a new low to right back above EMA50, signaling good momentum and strength.

We also get the biggest volume bar since June 22 on this same timeframe, 4h.

Now, looking back again at the daily chart , we have a new target.

Last time the bounce was small and only hit ~$35,000 USD per BTC .

This time it can go for longer and we can hit $40,000 or $45,000+...
What's your take?

Do you believe this is possible?
We just had a higher low and EMA10 is being challenged as I write this post... Leave a comment with your thoughts, charts and opinions.

Thank you for reading.

Comment: Next target $33,333 on the 4H timeframe...
Looking better now.
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Bulltrap !
+7 Reply
cryptospawn CrypTrader31
@CrypTrader31, agreed... and very well analyzed by the way!
+4 Reply
SDlektric CrypTrader31
@CrypTrader31, Couldn't agree more. BTC has a history of eating bulls and bears alike. After shaking out bears many times in the first half of the year it's still bull hunting season. A continuation of the uptrend would not be painful enough ;-)
BillMeyer CrypTrader31
@CrypTrader31, Agree - the trendline of the RSI is like a wall of steel at the moment.
Well analyzed.
for sure Alan
+2 Reply
AlanSantana alikratos29
@alikratos29, Any targets for the upside?
alikratos29 AlanSantana
@AlanSantana, im still agreed with your latest update about BTC ,(target 44444) must be reached <3
like your strategy we have higher low and volume breakout ,like always you say we`ll reach there with patience .
SDlektric alikratos29
@alikratos29, NOTHING is sure. It is a possibility. A continuation of the downtrend is just as likely...
alikratos29 SDlektric
@SDlektric, Of course ,but we have a trade here and we have a stop easily where it goes we go ,this is a 4 to 1 trade
you can add EMA 400 , 600 on daily time frame,
you can see what kind of support do we have here !
but my idea is if 32222 acts as resistance 29500 is more likely but overall this is bullish
look at the weekly ...
This can also be a trap?
+2 Reply