jackdavidpiney

BTCUSD Daily analysis - Short bear. Long bull.

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
A daily and 4hr chart analysis.

Daily

- Bearish day after a bullish rally. Huge historical resistance hit. Possible retrace to 9-10k. Major support at 10k but a retest of 150 EMA , 9500-9700, likely.

4hr

- If the Moving averages cross (Red and Green) expect trend reversal confirmation from 90% of analysts, including myself. My only concern at this point is the upper trendline.

- The last time the moving averages crossed (Golden Cross) was October 2017 and a 400% price rise.

Opening short to 9700

If we see a 9500-9700 bounce, opening long.