Hello Traders,
Yesterday i did a chart analysis on the Bitcoin CME Futures.
Today i did an other one with a different view and not on the Futures contract.
1. First, Let's speak about the past !
In the beginning of April 2019 Bitcoin broke the VWAP (decade anchor period) and it was the first important bullish signal.
About the VWAP, it is used everyday by Professional & Institutional Traders & it is respected as one of the best indicator above all the others.
You have to make your research & you'll see & understand what i mean :).
Ok so now back on topic !
During the same period Bitcoin stayed also over the EMA (31 period) it was the second bullish confirmation & this EMA (31 period) is so good especially in a Daily Chart.
Then in the beginning of May 2019 Bitcoin broke the MA (365 period) which was the third bullish confirmation.
Ma (365 period) is really effective & advisable for Daily Chart too.
2. Bitcoin broke its uptrend around the 20th September 2019.
A small short was possible but few time later Bitcoin met a range area.
At the end of October Bitcoin had a bullish correction till the break point of our uptrend support.
Small range again just after the big candle wick on the 26th October 2019 and a bearish trend till 1st January 2020.
3. Bitcoin began a bullish channel in the beginning of January 2020, broke it around the 24th February 2020 and crashed till 5000 price level.
4. Since the 13th March 2020 Bitcoin has gone up.
On the 23th April 2020 it broke the VWAP.
And when a candle break the VWAP especially on a Daily Chart you can be sure that's mean a high probability of a bullish trend even if a pullback is possible.
It broke also the MA (365 period) but stay just over so pay attention for a possible pullback.
5. Actually, it try to break the 9000 price level but it seems to be difficult.
Indeed, the candle wick of yesterday is important and say that sellers are in the pace.
Further, The actual candle meet difficulties to go up and break this 9000 price level.
6. Despite this, Bitcoin could reach new top in the next few days with an optimistic bullish scenario or in the next few weeks with a pessimistic bullish scenario.
7. First top target could be on the 10 000 price level which is remember well the break of our bullish channel.
Bitcoin can also go till 10 500 which was the high price level of our bullish channel.
8. The 12 000 & 13 000 price level which are our second target area in my opinion is not for tomorrow.
I think so before this Bitcoin will make some corrections between 10 000 & 10 500 price level.
9. I think so we have to wait till the Halving in order to have more viewpoint about the bullish potential.
10. But i'm an optimistic guy and without the Halving only by watching my chart, checking the world economic news etc. etc. I believe that Bitcoin could reach our Area Target 2 during this summer !
Ok, so it's all for this chart analysis.
Long i know lol but i just hope you'll like it !
Please, don't forget to support me by a following and a like it's really important for me because it give me more motivation to continue like that.
Thanks and see you !
Yesterday i did a chart analysis on the Bitcoin CME Futures.
Today i did an other one with a different view and not on the Futures contract.
1. First, Let's speak about the past !
In the beginning of April 2019 Bitcoin broke the VWAP (decade anchor period) and it was the first important bullish signal.
About the VWAP, it is used everyday by Professional & Institutional Traders & it is respected as one of the best indicator above all the others.
You have to make your research & you'll see & understand what i mean :).
Ok so now back on topic !
During the same period Bitcoin stayed also over the EMA (31 period) it was the second bullish confirmation & this EMA (31 period) is so good especially in a Daily Chart.
Then in the beginning of May 2019 Bitcoin broke the MA (365 period) which was the third bullish confirmation.
Ma (365 period) is really effective & advisable for Daily Chart too.
2. Bitcoin broke its uptrend around the 20th September 2019.
A small short was possible but few time later Bitcoin met a range area.
At the end of October Bitcoin had a bullish correction till the break point of our uptrend support.
Small range again just after the big candle wick on the 26th October 2019 and a bearish trend till 1st January 2020.
3. Bitcoin began a bullish channel in the beginning of January 2020, broke it around the 24th February 2020 and crashed till 5000 price level.
4. Since the 13th March 2020 Bitcoin has gone up.
On the 23th April 2020 it broke the VWAP.
And when a candle break the VWAP especially on a Daily Chart you can be sure that's mean a high probability of a bullish trend even if a pullback is possible.
It broke also the MA (365 period) but stay just over so pay attention for a possible pullback.
5. Actually, it try to break the 9000 price level but it seems to be difficult.
Indeed, the candle wick of yesterday is important and say that sellers are in the pace.
Further, The actual candle meet difficulties to go up and break this 9000 price level.
6. Despite this, Bitcoin could reach new top in the next few days with an optimistic bullish scenario or in the next few weeks with a pessimistic bullish scenario.
7. First top target could be on the 10 000 price level which is remember well the break of our bullish channel.
Bitcoin can also go till 10 500 which was the high price level of our bullish channel.
8. The 12 000 & 13 000 price level which are our second target area in my opinion is not for tomorrow.
I think so before this Bitcoin will make some corrections between 10 000 & 10 500 price level.
9. I think so we have to wait till the Halving in order to have more viewpoint about the bullish potential.
10. But i'm an optimistic guy and without the Halving only by watching my chart, checking the world economic news etc. etc. I believe that Bitcoin could reach our Area Target 2 during this summer !
Ok, so it's all for this chart analysis.
Long i know lol but i just hope you'll like it !
Please, don't forget to support me by a following and a like it's really important for me because it give me more motivation to continue like that.
Thanks and see you !
