BITCOIN - Technically a Good Short-Term BUY Opportunity!
Hi!
From the technical perspective, soon we will see a short-term bounce upwards. Two pretty good levels on such a tiny price range - between $6,460 to $6,510.
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The first arrow criteria at $6,490-$6,510:
1. The Fibonacci retracement golden 'pocket' 62%-65%. I drew that Fibo on the line chart, because after Theder crash those wicks is not so relevant.
2. The round number $6,500 works as a support
3. If the price manages to pump upwards so early then we get also a chart pattern called "Double bottom". The first part of the double bottom was at 20. Oct. and if we get a bounce we have a pretty clean and precise pattern to support future move upwards
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The second arrow criteria at $6,460:
1. The strong support at $6,460, which has worked historically pretty nicely.
2. The major down-trendline starts to work as a support, pulled from March 5.
3. The minor trendline works as a support, pulled September 5.
4. The Fibonacci 'secret' retracement level 70,5%. (this is a middle point from 61.8% and from 78.6%)
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Depends on the price action - basically, we should search for a candlesticks pattern from mentioned bounce areas - but those levels are pretty equal. The first one has a nice "Double bottom" opportunity but looks like a little bit to clean 'GO' area, we have to touch at least the round number to be a valid and healthy bounce.
The second area is a very strong support zone because those criteria makes a heavy crossing area where several price action criteria matching each other in the tiny price level but this level is also on-the-edge-level because we don't want to see a candle close below the trendlines and below the blue line at $6,460!
Definitely, I try to keep You posted if the price reaches into aforementioned levels.
If You appreciate my work then please hit the LIKE button!
Also, leave a comment with Your thoughts and feedback!
If You want to see the altcoins reviews, then visit "CryptoComes" profile in the TradingView and do not hesitate to follow it!
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!
From the technical perspective, soon we will see a short-term bounce upwards. Two pretty good levels on such a tiny price range - between $6,460 to $6,510.
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
The first arrow criteria at $6,490-$6,510:
1. The Fibonacci retracement golden 'pocket' 62%-65%. I drew that Fibo on the line chart, because after Theder crash those wicks is not so relevant.
2. The round number $6,500 works as a support
3. If the price manages to pump upwards so early then we get also a chart pattern called "Double bottom". The first part of the double bottom was at 20. Oct. and if we get a bounce we have a pretty clean and precise pattern to support future move upwards
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
The second arrow criteria at $6,460:
1. The strong support at $6,460, which has worked historically pretty nicely.
2. The major down-trendline starts to work as a support, pulled from March 5.
3. The minor trendline works as a support, pulled September 5.
4. The Fibonacci 'secret' retracement level 70,5%. (this is a middle point from 61.8% and from 78.6%)
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Depends on the price action - basically, we should search for a candlesticks pattern from mentioned bounce areas - but those levels are pretty equal. The first one has a nice "Double bottom" opportunity but looks like a little bit to clean 'GO' area, we have to touch at least the round number to be a valid and healthy bounce.
The second area is a very strong support zone because those criteria makes a heavy crossing area where several price action criteria matching each other in the tiny price level but this level is also on-the-edge-level because we don't want to see a candle close below the trendlines and below the blue line at $6,460!
Definitely, I try to keep You posted if the price reaches into aforementioned levels.
If You appreciate my work then please hit the LIKE button!
Also, leave a comment with Your thoughts and feedback!
If You want to see the altcoins reviews, then visit "CryptoComes" profile in the TradingView and do not hesitate to follow it!
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:
Here is the possible "Double bottom" chart pattern!
Please leave a LIKE and FOLLOW, it would be nice ;)
Comment:
RIPPLE Possible bounce opportunity:
Don't forget to hit the Like button ;)
Comment:
A pretty good statement from the bulls! Nice bullish 1h candle with high volume inside of it! Altcoins are showing also bullish signs and we may get a bigger bounce here, from my mentioned first area!
Comment:
Yesterday, I discovered nicely that bullish momentum what happened on the 1h time frame, plus it formed for us that mentioned "Double bottom" chart pattern.
Currently, the price fights with the minor trendline which acts as a resistance but if we want to see a nice breakout from the "Double bottom" chart pattern then we have to reach above the orange area, above the last 4h chart resistance. If the price manages to close above aforementioned area then we could see again that the price starts to approach the major resistance level at $6,767.
Altcoins are also supporting the current move, plus we are again above the 100 and 200 EMA's (after current 4h candle close I can say it more securely)!
From further action - as always, I try to keep You posted!
Currently, the price fights with the minor trendline which acts as a resistance but if we want to see a nice breakout from the "Double bottom" chart pattern then we have to reach above the orange area, above the last 4h chart resistance. If the price manages to close above aforementioned area then we could see again that the price starts to approach the major resistance level at $6,767.
Altcoins are also supporting the current move, plus we are again above the 100 and 200 EMA's (after current 4h candle close I can say it more securely)!
From further action - as always, I try to keep You posted!
Comment:
Short time frame (1h) but very nice bounce from the Fibonacci retracement level at 38% and from 200 EMA, plus bullish Hammer candlestick pattern!
If the market wants to be in the good and healthy momentum trend then it has to bounce from the Fibo 38%, and that's how it goes right now. Let's see what we got from the next hour!
If the market wants to be in the good and healthy momentum trend then it has to bounce from the Fibo 38%, and that's how it goes right now. Let's see what we got from the next hour!
