BTC / USD
hi guys today i wana discuss with you good bullish signs that can Support price toward previous resistance levels or even new ATH !
1- Similar Movments :
look at bearish wave in late February and comparing it with recent downtrend movement (now late april) you will see how similar they are and after first one we saw strong bullish recovery ..so there is high potenial for repeating this move again
2- MA 100
in my last idea i talked with you about how important is the moving average 100 on daily ...the price closed above it in last days and rebounced after...its our main support fir now
3-RSI on daily
reached very strong level at 30 which is the first time since march 2020 (major crash last year)
rebounce from here is very strong bullish sign
4- Crypto Fear And Greed Index : is fear now which is good sign too
5- Restore major support @ 50k
Price finally brokeout bearish trendline and break local resistance at 51k ... and also good weekly close above 49k
WHAT NEXT ?
As i said ma 100 on daily is our main Support for now ..above we will looking for resistance levels
53k (local resistance)
55-56 (medium resistance)
59-62k (major resistance)
However any daily close below 100 ma i will look for more potenial downside toward 44-40k at least
After all these signs DON'T FORGET RISK MANAGEMENT AND DONT FOMO .. because this what will make you survive in any market trend
Whats your opinion ?...share with us
hi guys today i wana discuss with you good bullish signs that can Support price toward previous resistance levels or even new ATH !
1- Similar Movments :
look at bearish wave in late February and comparing it with recent downtrend movement (now late april) you will see how similar they are and after first one we saw strong bullish recovery ..so there is high potenial for repeating this move again
2- MA 100
in my last idea i talked with you about how important is the moving average 100 on daily ...the price closed above it in last days and rebounced after...its our main support fir now
3-RSI on daily
reached very strong level at 30 which is the first time since march 2020 (major crash last year)
rebounce from here is very strong bullish sign
4- Crypto Fear And Greed Index : is fear now which is good sign too
5- Restore major support @ 50k
Price finally brokeout bearish trendline and break local resistance at 51k ... and also good weekly close above 49k
WHAT NEXT ?
As i said ma 100 on daily is our main Support for now ..above we will looking for resistance levels
53k (local resistance)
55-56 (medium resistance)
59-62k (major resistance)
However any daily close below 100 ma i will look for more potenial downside toward 44-40k at least
After all these signs DON'T FORGET RISK MANAGEMENT AND DONT FOMO .. because this what will make you survive in any market trend
Whats your opinion ?...share with us
Comment:
BTC hit 55K as expected ✅👍
Comment:
Read my new analysis about BTC here :👇
