BITCOIN - IS THIS OUR HIGHER LOW? IS OUR BREAKOUT COMING SOON??
Hey Folks, jumping right in. This is the same BTC Chart from my last post. My last post I mentioned we are looking for our higher low and possible a double top was forming. I did mention we should be looking at our higher low between 7500-8000. Looks like we were able to dip down to around 7700 for BTC. We are currently around 8200 at the time of writing this post. I need to see BTC go above 9800 and not dip below 8900 for me to consider the early morning's low around 7700 our higher low. This will be a great sign for us if this occurs because then BTC will be looking for it's higher high, which needs to be over 12300.
The current chart shows us bouncing perfecting off our 7800 support which was the last support line I drew out. None of the 4 hour candles closed below 7800 even though we did broke below 7800. The MACD on the 4 hour chart looks like it will cross to confirm a bullish signal so look out for a short term bullish run.
1 day Chart
This 1 day chart still shows me we are trading between the downward channel. Our MACD looks like (as of now) in 3-6 days we could see a bullish confirmation. Like we see in the 4 hour chart, the buys we could see could make the 1 day chart confirm a bullish macd crossover. You will also see the blue arrows which represent the LOW, HIGH, My prediction of our HIGHER LOW, and my prediction of where our HIGHER HIGH will be. We are still waiting to confirm if our dip to 7700 will be our higher low before we go looking for our higher high.
Summary:
Our Resistances and supports are still in play since my last chart. Keep and eye open for the current resistances and support. For me to see any type of bullish long term indications, I need to see BTC trade sideways. Support is 7800. Resistance is 8400, 8900, 9400, 9800.
The current chart shows us bouncing perfecting off our 7800 support which was the last support line I drew out. None of the 4 hour candles closed below 7800 even though we did broke below 7800. The MACD on the 4 hour chart looks like it will cross to confirm a bullish signal so look out for a short term bullish run.
1 day Chart
This 1 day chart still shows me we are trading between the downward channel. Our MACD looks like (as of now) in 3-6 days we could see a bullish confirmation. Like we see in the 4 hour chart, the buys we could see could make the 1 day chart confirm a bullish macd crossover. You will also see the blue arrows which represent the LOW, HIGH, My prediction of our HIGHER LOW, and my prediction of where our HIGHER HIGH will be. We are still waiting to confirm if our dip to 7700 will be our higher low before we go looking for our higher high.
Summary:
Our Resistances and supports are still in play since my last chart. Keep and eye open for the current resistances and support. For me to see any type of bullish long term indications, I need to see BTC trade sideways. Support is 7800. Resistance is 8400, 8900, 9400, 9800.