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.
Namaste.
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Next target $33,333 on the 4H timeframe... Looking better now.
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This one played out nicely.
First target at $40,000 hit.
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Patience is key.
Together we are reaching our 45K target. Check the new article for new targets ($100,000 and beyond).
@CrypTrader31, agreed... and very well analyzed by the way!
SDlektric
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@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
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@CrypTrader31, Agree - the trendline of the RSI is like a wall of steel at the moment.
Well analyzed.
@AlanSantana, Strange
At 40,550 exactly... huge drop.
Looks like it was a (hopefully small) Bulltrap after all. Well see what levels holds.
AlanSantana
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@BillMeyer, From $30,000 to $40,581.30... A strong move already.
6 candles green and the day is yet to close.
No bulltrap, bears have been rekt.
OxbadOded
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@AlanSantana, The daily is going to close soon. There is large hidden amount of selling volume just look at that upthrust. Looks like a bulltrap before another major dump.
AlanSantana
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@OxbadOded, The bulls are back on and in full force.
You guys can go back into vacations... Bear season is over.
SDlektric
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@AlanSantana, Of course - but let's see if the strend continues. Nobody ever said there wouldn't be pumps on the overall way down.