BTC perfectly following the projected path up
Hi all,
I said it many times - in trading, we need to just try to silence the social media noise and some false prophets looking just for likes/comments. It's funny how 1.5 days ago those "analysts" were all bearish on BTC and were drawing some stupid lines and corridors down, predicting the end of bitcoin etc, and now they are once again "slightly bullish"... :)
As I said on my last analysis on Wednesday, I don't see a valid reason to be bearish on bitcoin AT ALL.
Now what we are seeing in the last couple of days was more than expected given the double bottom that was formed and the solid horizontal support + local dynamic supports on the smaller timefames
BTC was not able to close above the diagonal resistance yesterday, but it's working on it now, trading above this very important line as of the time of writing.
It managed to find support at the local uptrend on the 1h- chart after regaining position above that important indicator yesterday.
This one I posted a few hours ago, but it clearly shows the breakout
What I would like to see today is a close above $9,300, so bulls can confirm their presence above the downtrend on daily and the last highs on the 1-h chart...
Cheers,
I said it many times - in trading, we need to just try to silence the social media noise and some false prophets looking just for likes/comments. It's funny how 1.5 days ago those "analysts" were all bearish on BTC and were drawing some stupid lines and corridors down, predicting the end of bitcoin etc, and now they are once again "slightly bullish"... :)
As I said on my last analysis on Wednesday, I don't see a valid reason to be bearish on bitcoin AT ALL.
Now what we are seeing in the last couple of days was more than expected given the double bottom that was formed and the solid horizontal support + local dynamic supports on the smaller timefames
BTC was not able to close above the diagonal resistance yesterday, but it's working on it now, trading above this very important line as of the time of writing.
It managed to find support at the local uptrend on the 1h- chart after regaining position above that important indicator yesterday.
This one I posted a few hours ago, but it clearly shows the breakout
What I would like to see today is a close above $9,300, so bulls can confirm their presence above the downtrend on daily and the last highs on the 1-h chart...
Cheers,
Comment:
Hitting the $9,500-$9,600 S/R zone right this moment. Expect a fight here
