Hello!
Over the night we got a pretty bullish price action.
The BTC' price bounce upwards from:
1. The Fibonacci golden ratio 62%-65%
2. The strong support area
3. The round number at $6,500
4. ..and the 4h candle formed a bullish "Hammer"
So, currently, it looks like a very good setup to make short-term trades. The first target would be the minor trendline and after the break the major resistance at $6,767.
Only thing what I would like to notify is the altcoins, they don't show any significant signs, just some altcoins are on the plus side and others are on the waiting mode. Let's see what we got from the current setup but overall it looks perfect and always You have to always consider, that those perfect setups may fail also ;)
If the price starts to fall downwards again then it would be a first bad sign that the momentum has gone and a second sign is a candle close below the $6,500, from there You have to be very careful! The major bearish confirmation would be a candle close below the $6,460 from there You have to stay away from the market!
If You appreciate my work then please hit the LIKE button!
Also, leave a comment with Your thoughts and feedback!
Thank You!
Have a wonderful day!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Over the night we got a pretty bullish price action.
The BTC' price bounce upwards from:
1. The Fibonacci golden ratio 62%-65%
2. The strong support area
3. The round number at $6,500
4. ..and the 4h candle formed a bullish "Hammer"
So, currently, it looks like a very good setup to make short-term trades. The first target would be the minor trendline and after the break the major resistance at $6,767.
Only thing what I would like to notify is the altcoins, they don't show any significant signs, just some altcoins are on the plus side and others are on the waiting mode. Let's see what we got from the current setup but overall it looks perfect and always You have to always consider, that those perfect setups may fail also ;)
If the price starts to fall downwards again then it would be a first bad sign that the momentum has gone and a second sign is a candle close below the $6,500, from there You have to be very careful! The major bearish confirmation would be a candle close below the $6,460 from there You have to stay away from the market!
If You appreciate my work then please hit the LIKE button!
Also, leave a comment with Your thoughts and feedback!
Thank You!
Have a wonderful day!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Comment:
LITECOIN Possible Trading Idea:
I'd really appreciate if You hit the LIKE button!
Comment:
Three signs from the shorter time frame (5 min.):
1. Bullish - we are above the short term down trendline
2. Bullish - we are on the bullish pattern "Ascending Triangle"
3. Bearish - we are on the bearish continuation pattern "Rising Wedge", bearishness will be confirmed when You see a break below the bottom blue line, I try to keep You posted!
So, currently 2 bullish 1 bearish signs!
1. Bullish - we are above the short term down trendline
2. Bullish - we are on the bullish pattern "Ascending Triangle"
3. Bearish - we are on the bearish continuation pattern "Rising Wedge", bearishness will be confirmed when You see a break below the bottom blue line, I try to keep You posted!
So, currently 2 bullish 1 bearish signs!
Comment:
On BITFINEX we have heavy resistance, one break above that gray line at $6,547 and BOOOM...upwards!! :)
Comment:
It is better to look at the color dry than this market here, grhhhh....
Comment:
This is almost pathetic that we have to watch so low timeframes BUT we have a breakout from the triangle :D
Overall there are more bullish signs than bearish but let's see what we got from the NEXT minute! ;)
Hopefully, soon we will see something bigger!
Overall there are more bullish signs than bearish but let's see what we got from the NEXT minute! ;)
Hopefully, soon we will see something bigger!
Comment:
About those bullish signs:
1. The price made a breakout from the down channel:
2. The blue trendline has worked correctly together with the March low support after the price trades above those again!
1. The price made a breakout from the down channel:
2. The blue trendline has worked correctly together with the March low support after the price trades above those again!
