Bitcoin Could Use A C-Section To Deliver This Baby Bull

It's like waiting at the delivery room for the coming of a new born (new BULL Run)

Looking for support at $6160, possibly consolidate for a moment, allow the baby BULL to get up on its legs first prior to running.


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Watch out for STOPS-HUNTING BOTS!!!!



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>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<



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More Power To All Your Trades,
Ron (The Intrepid Trader)

Comment:

Price continues to stay under the 20 Period EMA and the descending resistance trend line. It's time to break out from this descending triangle.

Comment:

Just something to be aware of...
The Day Chart does NOT yet have a bullish divergence.

Comment:

It would really be very interesting to find out if this bullish divergence on the RSI would already be fulfilled the same way as it did back in February 2019.

Comment:

If this bearish cross over continues as price drops, Bitcoin will have to wait to create that bullish divergence on the RSI.

Comment:

For all we know, this might as well be the bullish divergence that would push this price up and out of this falling wedge.
Patience, Patience, Patience.

Comment:

If price drops below the 61.8% Fib, the next support level is the 78.6% Fib @ $6813 and RSI could possibly be forming a bullish divergence then (Broken Pink Trend Line).
Patience, Patience, Patience.

Comment:

78.6% Fib Level reached. If price consolidates here, a reversal may follow soon. But if price continues to drop the next level to look for support is @ $6526.

Comment:

The Daily Chart already has a Bullish Divergence A Brewing. Just waiting for a candle close today and price would probably pump by then.

Comment:

Support Is Currently Being Re-Tested. Should this support level hold, it would mean a massive move upwards for Bitcoin.

Comment:

Bitcoin is inching its way to the $6526 level where it initially found support, plus the descending support line (broken white extended trend line) is right below it and price could probably hold that as support. If price reverses from the 100% Fib level ($6526) a Double Bottom reversal pattern can ensue.
Diligently watching Bitcoin as it tries to deliver the new born Bull.

Comment:

Bigger picture here with the price getting towards the end of this falling wedge. Price is very close to the lowest level it reached at $6522. Getting close to a price reversal from this falling wedge.

Comment:

Bitcoin reached the $6522 and further down to the descending support line of the falling wedge. Now price has pulled back, what's next?
Next, Bitcoin has to re-test a support zone.

Comment:

itcoin Reached The Support Line Of Falling Wedge - What's Next?