TomHall
Long

Bitcoin - Reversal 3, 2, 1

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Currency Pair: BTC             .USD
Time Frame: Daily
Predicted Direction: Long

Live BTC             .USD updates will be available in the comments section below.
Comment: Price is now at historical 4hr chart support, should this be broken all eyes would be on the Daily TF.

Comment: 1hr RSI providing significant bullish divergence.

Comment: Price pulled back to 1hr 50EMA & 38.20%
We will see if price can break above the first minor 1hr resistance just above $7,200

Comment: Nice clean break above the 1hr 50EMA the 4hr sits at $8686 which would be the next target.

Comment: 1hr 50EMA & 38.20% B&R, more upside is expected to retest the 4hr 50EMA

Comment: 4hr TF.
Within the coming hours i believe we will know more about the longer term outlook for bitcoin depending on the EMA rejection or breakout.

Comment: 4hr price is looking to form a high test candle aswell as the 1hr TF.
We also have bearish 1hr RSI divergence forming running into 4hr resistance.

Comment: Bitcoin Reversal ( Bull Market )

Price needs to break through 5 structure resistance levels.

Comment: Perfect 1st rejection, i have now published below my next trading opportunities.

@TomHall thank you for the great work. I appreciate your posts, they are very helpful! What do you think is the next target in the face of those resistance levels?
+1 Reply
@TomHall " 4hr price is looking to form a high test candle aswell as the 1hr TF.
We also have bearish 1hr RSI divergence forming running into 4hr resistance. " mind explaining what that means? More upside or downside?
+1 Reply
userbeauty MuMPiTz
@MuMPiTz, We could see a push lower, if we see a break above the blue box it could be a longer term bullish sign. (not sure if this info is still relevant)
+1 Reply
userbeauty userbeauty
@userbeauty, Tom Hall wrote that in a message below
+1 Reply
TomHall MuMPiTz
@MuMPiTz, Price is running into resistance on the 4hr TF, i have just updated a post and identified 5 resistance levels on the Daily TF that traders should be aware of prior to getting long.
For me as of right now there is no trade opportunity.
+6 Reply
MuMPiTz TomHall
thx everyone! I'll stay out then. Would be good to know when we have a clear signal for further upward movement. I can't read these charts myself :(
+1 Reply
@MuMPiTz, agree. I didn't get it. Just tell us in plain English where do you think the price is going, please)
+1 Reply
TomHall apribytkovsky
@apribytkovsky, There is no clear entry at the moment, for me i am sitting back and watching price.
+1 Reply
the question is: where is the blue 4?

i like also M1

if above 8522 dann ok... is going further up
if not, then 4 muss be deeper (around 7668) - would not like to see that now

Reply
NeverNO NeverNO
@NeverNO,

if i'm writing fast, sometimes i mix german and english ... do not pay attention :-)
Reply
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