as many time today I will reveal about Bitcoin via 4 screen with different time frame 1 month - 1 week - 1 day - 4 hours chart.
It will be very clearly for you to know where we are standing and overall view from big picture to small picture.
Begin with monthly time frame, we have August and September candle are bearish. The August candle close in 7014, if the price of this month close below 7014 so we may have another bearish candle in next month and it will be terrible because we have strong support in 5800-6000$, this zone keep us have nice bounce up in several time, bear will action and win bull, we will see the critical support break and after that is several month in panic of market. We have strong resistance by MA7 ( 7 months resistance ) in 73-74 so hard for us break this zone. The strong support is MA21 (21 months support) in 58xx, and also keep us upper this zone. DMI 4C show us bullish is weaker.
Consider weekly time frame, using Fibonacci I think we have strong resistance in 6920 ( Fibonacci 1.618 ) + resistance zone (67xx - 69xx) built by MA14 and MA21. We are now in bearish candle after 2 week of bullish. If the price of this week close upper 6710 (close price of last week) so we may have another bullish in short term come to 70xx. But if the price close below 6498 (open price of last week) so we have downtrend in short term to 61xx - 62xx.
Come to daily time frame, clearly we are in Bearish Flag pattern, so uptrend in short term is possible before keep dropping in price. But the target for coming up is 68 - 70 for this time. We will see a lot of seller in here to keep us below 2 zone. The target for all you if SHORT entry form 68 - 70 is 63-64 for this time. DMI 4C show bearish is weaker so we will see Bitcoin pump soon in short term.
Last is 4 hours time frame, we see 4 points ( 2 double top and higher low ). Bitcoin in the fighting of bear and bull in this zone. Double top show we have strong resistance in zone 68xx and uptrend line keep us continuing go up. The price break line P in Pivot Point so I think we will come to S1 ( 62xx) if we break down support 1 ( 63xx - 64xx ) in short term. DMI 4C show stronger downtrend so we may drop to support 1 and in here we have good buy zone for earning fast and small profit in short term from here.
All above are my view point and all depend on you. Smart invest all guys and good luck!
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