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BITCOIN Should we wait for the $9100 Support to buy?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This is just a quick update on Bitcoin's short term price action.

The 5H chart is close to printing a Death Cross (EMA50 crossing below the EMA200). Since we are still within a 1D Descending Triangle (meaning Lower Highs with a Support) with 9100 as the 1D Support, there is a strong probability of another contact.

This argument becomes stronger as the previous time BTC made a Death Cross on 5H, the price touched the 9100 Support before making a strong Lower High rebound within the Descending Triangle . The candle action (see the Rectangles on the chart) now and then is identical.

Is $9100 - 9400 a valid Demand Zone? Hit the like and subscribe button and let me know in the comments section for another heated discussion!


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that demand zone is about to get BTC soon !!
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Hi!

I follow you for some time.

How the **** have you found 5H? Why? I have 4h and 6h, I understand 3h (because 24 divides with 1,2,3,4,6,8,12 ...) ....

Tricky question: If you folllow 5h graph - when the daily candle closes? Every day?

Sorry to ask you so but I am mathematically courious ;)

Best Regards, Peter.
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Nice chart, luckly we are trading above that right now!

Please take a look and support our thoughts also!

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$9100-$9200 Higher low
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I would not expect a bounce from $9100-9500. That is a break down point and I would expect a further breadown from these levels down to the $8500 and below area.
+3 Reply
I wouldn't but heck it's bitcoin you might be right. After Binances crazy maintenance we've bin pretty close to buyer support and rising after a double bottom. I'm leaning more towards back to 10.6k-11k level. Check out my analysis for more detail.
+1 Reply
Nice setup, It was possible but maybe chances are getting smaller!
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