07 January 2020 BTC Review
Hi guys,
Here is our weekly review for Bitcoin
It had a great move perfectly matching our forecast
7.9k-8.1k is a very serious horizontal level, which lasts from November 2017 as you remember, the 100-Day MA is in line with the downward channel resistance and coming up right there + the 50-Week EMA + it’s 0.382 Fib (from the 5k low to 11k high). So, 7.8k region is a tremendous confluence of resistance and breaking above it would mean a lot for the bulls.
However we need a higher high for confirmation.
If we do not manage to break that Resistance Level and pull back to 0.5 Fib at 6.6k - be ready for sub 6k prices.
Anyway we can spot few indicators on 1D chart are showing us amazing development
So it can push Bitcoin higher until it will meet Dynamic resistance reaching the price of 9000 in a best case scenario
MACD just crossed Zero Point and it is bullish
ADX & DI are very carefully confirming bullish movement
RSI is certain in its perfect bullish strike and will keep us well informed were exactly price will be trying to create its double top on the very nearest resistance level
Hi guys,
Here is our weekly review for Bitcoin
It had a great move perfectly matching our forecast
7.9k-8.1k is a very serious horizontal level, which lasts from November 2017 as you remember, the 100-Day MA is in line with the downward channel resistance and coming up right there + the 50-Week EMA + it’s 0.382 Fib (from the 5k low to 11k high). So, 7.8k region is a tremendous confluence of resistance and breaking above it would mean a lot for the bulls.
However we need a higher high for confirmation.
If we do not manage to break that Resistance Level and pull back to 0.5 Fib at 6.6k - be ready for sub 6k prices.
Anyway we can spot few indicators on 1D chart are showing us amazing development
So it can push Bitcoin higher until it will meet Dynamic resistance reaching the price of 9000 in a best case scenario
MACD just crossed Zero Point and it is bullish
ADX & DI are very carefully confirming bullish movement
RSI is certain in its perfect bullish strike and will keep us well informed were exactly price will be trying to create its double top on the very nearest resistance level