Daily Bitcoin review: 8 Green candles in a row, whats next?
**Welcome to daily Bitcoin analysis**
Alright so Amazon accepting crypto news has helped Bitcoin surge to $40K, on Binance futures it even spiked to $48K.
I personally have a small position open from $32,300 and I was waiting for some pullback that didn't happen, and it's usually the case with bitcoin. You always don't get what you want.
I am still in no rush to add to my position and will wait for a pullback before adding more to my position.
I believe we will see Bitcoin going to test 200DMA and maybe even higher to $48K where Biance future spiked on 26th July.
I hardly use any indicators but OBV is my favourite and if you understand how to use it then more often than not OBV will give you buy signals before you see it on the price charts.
So Bitcoin OBV on daily now clearly showing signs of recovery and break of resistance.
When it happens along with the price is usually is a good sign for bulls.
The fear index is completely bottomed out, so the market may have started leaning towards greed, so little correction and profit booking is expected here.
Those who are waiting to enter, please wait for some pull back, always buy on the red candle and on support. We can see a pullback towards $35K to $36K and those will be good levels to buy.
Hope this helps. Happy trading!
Alright so Amazon accepting crypto news has helped Bitcoin surge to $40K, on Binance futures it even spiked to $48K.
I personally have a small position open from $32,300 and I was waiting for some pullback that didn't happen, and it's usually the case with bitcoin. You always don't get what you want.
I am still in no rush to add to my position and will wait for a pullback before adding more to my position.
I believe we will see Bitcoin going to test 200DMA and maybe even higher to $48K where Biance future spiked on 26th July.
I hardly use any indicators but OBV is my favourite and if you understand how to use it then more often than not OBV will give you buy signals before you see it on the price charts.
So Bitcoin OBV on daily now clearly showing signs of recovery and break of resistance.
When it happens along with the price is usually is a good sign for bulls.
The fear index is completely bottomed out, so the market may have started leaning towards greed, so little correction and profit booking is expected here.
Those who are waiting to enter, please wait for some pull back, always buy on the red candle and on support. We can see a pullback towards $35K to $36K and those will be good levels to buy.
Hope this helps. Happy trading!
