Please hit LIKE to start reading... Let's get to the signals:
- VOLUME. We can see green building up after the last strong drop on November 24th when Bitcoin broke down below $4030. Green is good for the bulls.
- BREAKOUK. EMA10 has been working as resistance for Bitcoin’ when it tries to move up. Each time Bitcoin’ tries to break this line it goes back down. Recently, Bitcoin’ broke above EMA10 with good strength, this is a signal.
- HIGHER LOWS. We can spot higher lows being created on the 4h TF, now a higher high is needed for BTC to start hitting our targets.
- REVERSAL . We have two green Dojis before the EMA10 breakout; these are reversal signals. The breakout after these dojis showed up, gives additional strength to this signal.
- NEXT RESISTANCE. $4035 Is the immediate resistance.
- THIS IS NO TRADE ADVICE. Please trade at your own risk. This is no trade advice, this information is shared exclusively for your own learning and entertainment... My trades are shared in my profile and all details always explained... Thanks a lot... Your support is truly appreciated.
If Bitcoin’ breaks and closes below $3455, all these signals would be invalidated. So if you are using this information to start a trade, $3455 should be your stop loss.
Here are the targets for BTCUSD’ for the coming days/next week:
- (1) $4200
- (2) $4700
- (3) $5000
Thanks a lot for reading.
I'll see you again... Soon.
(2) $4700 - Next target
Coinbase 4H TF:
Coinbase 1D TF:
BitFinex 4H TF:
BitFinex 1D TF:
Take a look here:
We just broke above EMA50 (magenta line) recently, with little strength, so this isn't much relevant. EMA10 is now working as main support. If Bitcoin can remain above this level, we can test the next resistance. If the above resistance is broken Bitcoin can be and test $4555 on the time frame below:
A fail to remain above EMA10 can take us to test the $3800-$4000 range.
We will continue tracking Bitcoin and see how it goes.
Thanks a lot for reading. Appreciate your support.
We also have our green trendline as support as well. Allow time for the charts to develop.
It can easily decide to go sideways for a few days...
Here is the chart:
I agree with you, but, calm down!