BITCOIN Will it test the 4H MA50 or MA200?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is a quick update on Bitcoin's recent neutral price action.

BTC is clearly consolidating but this sequence is no stranger to us. We have seen this sideways structure a few times since November. The RSI on the 4H time-frame is near its 1st buy zone, which is where the 4H MA50 (blue trend-line) tends to Support Bitcoin and provide the necessary buy accumulation for a push higher. If that zone fails, the the RSI 2nd buy zone is where the 4H MA200 holds and pushes the price up. Same structure for the LMACD as well, which tests these zones after a bearish cross (red arrow). Time your buys (if you are a medium-term 4H trader) accordingly.

** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **


!! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !!

πŸŽ‰ πŸ‘ Shout-out to TradingShot's πŸ’° top TradingView Coin donor πŸ’° this week ==> TradingView

Join Tradingshot's Account Management program!!
-At least +20% monthly profit on +10000 USD accounts. Max 30% drawdown.
-Message me for more info!

I trade on the best platform PRIME XBT!



30k run out of this current bull flag (happening now), then straight to 200ma for one last big consolidation before moving to 50k by 3/1
+4 Reply
airbub McGorgeous
@McGorgeous yep that’s what I’m thinking as well. I know the price action can’t be expected to follow the last bull run exactly, but May 2017 looks very similar to where we are now (testing the same fib extension on the logarithm growth curve chart)
I'm new to this and would love to know what do MA4H50 and MA4H200 mean? Thanks so much!
+3 Reply
soso1 sethmonkmail
@sethmonkmail MA = Moving Average... Its an Indicator. Period 50 & 200 on a 4hr Time Frame.. AKA MA4H50 & MA4H200..
+4 Reply
perfect πŸ‘
+3 Reply
TradingShot sami1324
@sami1324, Thank you Sami.
thank you!
+3 Reply
TradingShot hujianghua
@hujianghua, You're welcome! Thanks for the support!

MR: I think this is a very important support.
+2 Reply
Aroundthesun hujianghua
@hujianghua, Covid19 = stock market Crash = Anomaly ..?

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out