Hello and welcome back, today I will be looking at my another Bitcoin Technical Analysis.
Last time I succesfuly predicted an Ascending triangle breakout which led to 7100, where Bitcoin has stucked for a day, trying to break ressistance but unsuccesfuly as macd was losing time and its test was unsucessful.
After that Bitcoin has seen retrace to 6800, which is considered as pretty good support level with the help of uptrend, as Bitcoin was able to bounce of this level right to 7000, from there it retraced a bit and found again support at second uptrend and tested 7100 level with just a tiny retrace.
But, what Bitcoin has to do to Remain Bullish?
Bassicaly Bitcoin just has to follow his overall uptrend, and not broke it, always find support on it and see some decent bounce off it.
Another Bullish sign is, if Bitcoin can keep on current second uptrend is to see MACD crossover, for that 4h macd histogram cannot see comma higher than previous one closed, that would broke histogram uptrend.
When one comma is going to be longer than previous, Bitcoin will start to seek support and than can have a second try for a macd crossover, because this 4h macd is pretty important as it shows way for longer period macds, and 12h has to see a succesful test so time is running out, but so far it looks good, wasnt looking the best few hours ago though.
Another Possibility is that
If the overall uptrend gets broken, Bitcoin may see retrace to 6600, thats the third way.. Bitcoin would need to see a really strong bounce back to this uptrend to see steady rise again from there.
This event would not mean for Bitcoin some huge failure, just a change of plans, will keep you updated so dont worry about it now.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel, you can also find there Trading patterns, my trades enters and my targets, advices, or you can ask me for a TA on demand without any fee! Invitational link is in mine description!
If you like this Technical Analysis and I made your view on current Bitcoin current situation somehow clearer let me know by hitting that agree button, I really do appreciate every one as it motivates by spending more time on TA´s, Thanks a lot!
Last time I succesfuly predicted an Ascending triangle breakout which led to 7100, where Bitcoin has stucked for a day, trying to break ressistance but unsuccesfuly as macd was losing time and its test was unsucessful.
After that Bitcoin has seen retrace to 6800, which is considered as pretty good support level with the help of uptrend, as Bitcoin was able to bounce of this level right to 7000, from there it retraced a bit and found again support at second uptrend and tested 7100 level with just a tiny retrace.
But, what Bitcoin has to do to Remain Bullish?
Bassicaly Bitcoin just has to follow his overall uptrend, and not broke it, always find support on it and see some decent bounce off it.
Another Bullish sign is, if Bitcoin can keep on current second uptrend is to see MACD crossover, for that 4h macd histogram cannot see comma higher than previous one closed, that would broke histogram uptrend.
When one comma is going to be longer than previous, Bitcoin will start to seek support and than can have a second try for a macd crossover, because this 4h macd is pretty important as it shows way for longer period macds, and 12h has to see a succesful test so time is running out, but so far it looks good, wasnt looking the best few hours ago though.
Another Possibility is that
If the overall uptrend gets broken, Bitcoin may see retrace to 6600, thats the third way.. Bitcoin would need to see a really strong bounce back to this uptrend to see steady rise again from there.
This event would not mean for Bitcoin some huge failure, just a change of plans, will keep you updated so dont worry about it now.
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel, you can also find there Trading patterns, my trades enters and my targets, advices, or you can ask me for a TA on demand without any fee! Invitational link is in mine description!
If you like this Technical Analysis and I made your view on current Bitcoin current situation somehow clearer let me know by hitting that agree button, I really do appreciate every one as it motivates by spending more time on TA´s, Thanks a lot!
Comment:
Bassicaly if this 15 min macd can slide, Bitcoin will see another test of 7100. which is Bitcoin current key ressistance level
Comment:
Watch the 5 min, as it shows the way for the 15 min MACD, its in pretty good spot right now, testing.
Comment:
Comment:
Good morning, Bitcoin is testing 7100 with a beatufil MACD slide, lets see how high the histogram can climb, lets zoom this situation by looking at shorter timeframes.
Comment:
30 min macd crossover is not that high that it require huge ammount of demand,it can lead btc to 7150 level, but it can easily find ressistance there and retrace quickly looking for support.
Comment:
15 min in downtrend looking for support, also 5 min will be very soon testing,
Trade closed: target reached:
I was away for the weekend, but target 7400 was hit.