Hey guys,
This is my first published chart on Trading View. Interested to see what you think of my BTC analysis.
We are currently pushing up against the Yellow 200MA on the 1H chart. After our dip down to 28k 5 days ago we saw this MA act as resistance pushing the price back down to 30k again. Yesterday we pushed up against the MA again.
If we can push through the 200MA I see this as a bullish move. We would then test the upper band of our current upward trend channel.
If we are again rejected, then I think we will push down out of our current uptrend channel. If that happens, then we will hit the horizontal resistance from our last move to 28k. If this doesn't hold, then we could see a drop to 23-24k.
As always, not financial advice. DYOR. I welcome any feedback to help me improve. :)
This is my first published chart on Trading View. Interested to see what you think of my BTC analysis.
We are currently pushing up against the Yellow 200MA on the 1H chart. After our dip down to 28k 5 days ago we saw this MA act as resistance pushing the price back down to 30k again. Yesterday we pushed up against the MA again.
If we can push through the 200MA I see this as a bullish move. We would then test the upper band of our current upward trend channel.
If we are again rejected, then I think we will push down out of our current uptrend channel. If that happens, then we will hit the horizontal resistance from our last move to 28k. If this doesn't hold, then we could see a drop to 23-24k.
As always, not financial advice. DYOR. I welcome any feedback to help me improve. :)
Comment:
Just pushed through the 200MA with solid volume. Waiting for the retest before making a call.
Comment:
Price has now pushed through the 200MA and successfully retested the mid channel support. Expecting the price to go up from here.
Price has now pushed through the 200MA and successfully retested the mid channel support. Expecting the price to go up from here.
Comment:
Price was rejected from the resistance from previous high at 35.3k. I suspect we will see a retracement back to the 200MA.
If we bounce off the 200MA I see this as a sign of strength and we will have another attempt at the 35.3k resistance (green arrow).
If the 200MA fails to hold up the price, then we may see a big drop back to 28-30k. If this level fails to hold then we could drop as far as the 23-24k resistance from Dec 2020.
Price was rejected from the resistance from previous high at 35.3k. I suspect we will see a retracement back to the 200MA.
If we bounce off the 200MA I see this as a sign of strength and we will have another attempt at the 35.3k resistance (green arrow).
If the 200MA fails to hold up the price, then we may see a big drop back to 28-30k. If this level fails to hold then we could drop as far as the 23-24k resistance from Dec 2020.