Hello everyone
Today I’m back with some more TA. A lot to talk about today. Let’s get straight in to this.
- So first I would like to talk about what happened today. We saw a nice big green candle, we went up with +/- 4.5%. We’ve got rejected at our first resistance at 7.8K like I’ve predicted in my last idea. This resistance line is to big at the moment. We can clearly see that two resistance-lines are crossing at the 7.8K mark. If volume stays the same, then my guess is that we will go down to our first small support at 7.3K.
- I think that BTC will pass the downtrend resistance line in a couple of days after we see a small pull-back. If that happened, 8.4K is our next resistance line.
- Another remarkable appearance at this moment: The crypto market is going up, the crypto market cap is going up, and BTC-dominance is going up aswell?! This is strange because this never happened in the past before, when crypto went up, btc-dominance went down. If crypto went down, BTC-dominance went up. That is because the volatility of BTC was less than the volatility of the altcoins. This means that less and less people are interested in altcoins, that BTC volatility went up and that the market is getting mature.
- I think that we are in a small upwards rally at the moment because of the ETF-news and the fact that institutional investors are getting interested. The etf-news is feeding the bulls atm.
- BUT: the RSI and Stoch RSI is telling us some bad news. They are both incredibly high, which means that BTC is overbought for sure. That’s why I’m expecting a small pullback to our first support at 7.3K.
Prediction
So I expect that BTC will see a small pull back tomorrow or the day after, if we can beat the first resistance line, it will be only a matter of time to hit our next target at 10K.
- I will wait until the 7.8K level has been passed, if we can hold on above the 7.8K, I will set an order at 8K. That’s safely above the 7.8K level, stoploss at 7650.
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts and are no financial advice!
Today I’m back with some more TA. A lot to talk about today. Let’s get straight in to this.
- So first I would like to talk about what happened today. We saw a nice big green candle, we went up with +/- 4.5%. We’ve got rejected at our first resistance at 7.8K like I’ve predicted in my last idea. This resistance line is to big at the moment. We can clearly see that two resistance-lines are crossing at the 7.8K mark. If volume stays the same, then my guess is that we will go down to our first small support at 7.3K.
- I think that BTC will pass the downtrend resistance line in a couple of days after we see a small pull-back. If that happened, 8.4K is our next resistance line.
- Another remarkable appearance at this moment: The crypto market is going up, the crypto market cap is going up, and BTC-dominance is going up aswell?! This is strange because this never happened in the past before, when crypto went up, btc-dominance went down. If crypto went down, BTC-dominance went up. That is because the volatility of BTC was less than the volatility of the altcoins. This means that less and less people are interested in altcoins, that BTC volatility went up and that the market is getting mature.
- I think that we are in a small upwards rally at the moment because of the ETF-news and the fact that institutional investors are getting interested. The etf-news is feeding the bulls atm.
- BUT: the RSI and Stoch RSI is telling us some bad news. They are both incredibly high, which means that BTC is overbought for sure. That’s why I’m expecting a small pullback to our first support at 7.3K.
Prediction
So I expect that BTC will see a small pull back tomorrow or the day after, if we can beat the first resistance line, it will be only a matter of time to hit our next target at 10K.
- I will wait until the 7.8K level has been passed, if we can hold on above the 7.8K, I will set an order at 8K. That’s safely above the 7.8K level, stoploss at 7650.
Give it a like if you appreciated it
comments and thoughts are always welcome
My orders are my thoughts and are no financial advice!