Hey everyone,
Bitcoin hit our target and bounced from the 20 Week SMA and 21 Week EMA levels from the Bull market band. The level is also the same as the fibonacci golden pocket. While I expected volatility, I didn't expect to happen in a minute 😆
With that said, it looks like Bitcoin is respecting a rising parallel channel for a while. Under this hypothesis, this is the time to BUY as it is less riskier. This argument is also supported with the RSI touching the OVERSOLD area in the 4h timeframe! The MACD still awaits for confirmation. For the bulls, the target will be at the 51k level but please, don't forget to put STOP LOSSES!!! Market can still be unstable.
If the price continues to go under the channel, we might need to look for entries at the fibonacci golden pocket at 43k.
Trade safely my friends!
Yours truly,
Aloo2k
Bitcoin hit our target and bounced from the 20 Week SMA and 21 Week EMA levels from the Bull market band. The level is also the same as the fibonacci golden pocket. While I expected volatility, I didn't expect to happen in a minute 😆
With that said, it looks like Bitcoin is respecting a rising parallel channel for a while. Under this hypothesis, this is the time to BUY as it is less riskier. This argument is also supported with the RSI touching the OVERSOLD area in the 4h timeframe! The MACD still awaits for confirmation. For the bulls, the target will be at the 51k level but please, don't forget to put STOP LOSSES!!! Market can still be unstable.
If the price continues to go under the channel, we might need to look for entries at the fibonacci golden pocket at 43k.
Trade safely my friends!
Yours truly,
Aloo2k
