BTC - Healthy consolidation! Daily higher low found?
Hey there,
So Bitcoin has been consolidating in the last few weeks and days and is currently holding its gains.
In my latest post I expected Bitcoin to find a daily higher low in the near future at around 9000USD.
Therefore it is of no surprise, that we bounced off of low 9000 and are now about to retest resistence.
Also we have a bull flag on the 4h and 12h chart and you could make the case for a falling wedge on the daily.
Bears didn't see follow through as support was broken regularly and got often bought up.
There is a reasonable chance that we now have found a daily higher low, although I cannot be too sure yet.
We recently had a 9 on ETH on the TI Indicator daily, but did not break too far and could be going into a double 9.
The weekly timeframe is at a 5, so we still have plently of room to the upside.
Targets are marked with white horizontal lines where resistance is likely to be seen in the future.
Bulls still maintain controll and keep the trend strong.
Maybe this really is the ralley into the halving with a "sell the news" event in May 2020.
Check out my YouTube channel: Enlightened Trading
on which I regularly post videos on crypto and the stock market.
Also follow me on Instagram and Twitter at
enlightened_trading_
Cheers,
Konrad
So Bitcoin has been consolidating in the last few weeks and days and is currently holding its gains.
In my latest post I expected Bitcoin to find a daily higher low in the near future at around 9000USD.
Therefore it is of no surprise, that we bounced off of low 9000 and are now about to retest resistence.
Also we have a bull flag on the 4h and 12h chart and you could make the case for a falling wedge on the daily.
Bears didn't see follow through as support was broken regularly and got often bought up.
There is a reasonable chance that we now have found a daily higher low, although I cannot be too sure yet.
We recently had a 9 on ETH on the TI Indicator daily, but did not break too far and could be going into a double 9.
The weekly timeframe is at a 5, so we still have plently of room to the upside.
Targets are marked with white horizontal lines where resistance is likely to be seen in the future.
Bulls still maintain controll and keep the trend strong.
Maybe this really is the ralley into the halving with a "sell the news" event in May 2020.
Check out my YouTube channel: Enlightened Trading
on which I regularly post videos on crypto and the stock market.
Also follow me on Instagram and Twitter at
enlightened_trading_
Cheers,
Konrad
