Hello friends I would like to share my ideas on long term analysis of Bitcoin ....as you can see we are currently between longterm resistance TURNED SUPPORT of 9000-9100 region and fighting to get bove the hard time resistance of 10000-10400 .So far we have made multiple efforts to close and sustain above it but have failed multiple times and cosequently retested the support several times .....I suggest to buy pullbacks under certain circumstances .
After every Pullback the price tries to reclaim support to relaunch an attack on the resistance.Normally first attempt always dries up because of not haing enough momentum .That's y RSI is important as we can see from it the the price action has the momentum necessery to reclaim the support and attack the resistance overhaull !
**For a Bull Market after a pullback the price action should recliam 200 EMA support with RSI above 55+ in a 1 or 2 hour chart **
Hope you like my idea ....try it yourseld and like and comment !
After every Pullback the price tries to reclaim support to relaunch an attack on the resistance.Normally first attempt always dries up because of not haing enough momentum .That's y RSI is important as we can see from it the the price action has the momentum necessery to reclaim the support and attack the resistance overhaull !
**For a Bull Market after a pullback the price action should recliam 200 EMA support with RSI above 55+ in a 1 or 2 hour chart **
Hope you like my idea ....try it yourseld and like and comment !
Trade active:
Reclaimed and consolidating above 200 EMA with good RSI of about 55+ ..probably once again gonna retest high time resistances
Trade active:
Untill it conolidates well above 200 EMA chaces are it may wick down again to mid 8K range