Hi guys,
This is an other Bitcoin analysis on D1.
The Bitcoin's price breakout his trend line resistance at 6650 $ after three tries! Nothing is won yet but it's a good start for a new bull run in the end of the year.
Legends :
- Purple line (clear) : MA 10
- Purple line (dark) : MA 20
- Yellow line (clear) : MA 50
- Blue line (clear) : MA 100
- Red line (clear) : MA 200
Since mid-June, Bitcoin's price recorded higher low on D1. The last one was on October 10 at 6250 $.
Today is a major day to confirm this breakout. In the worst scenario, BTC's price close below the support at 6500 $.
In the best scenario, BTC's price close above 6650 $ (breakout price). If this scenario happen, the price closing will be above the MA 10, 20 & 50.
An other important point, is the highest register price at the time when i'm writing this idea. This is an other perfect trend line from april lower support.
Since this time, this line became a resistance. We'll see to the next level !
If you thinking about the yellow area, is just because for me it's an area without any resistance and support, an easy zone to reach toward a new support (I hope).
Thanks for your time guys !
This is an other Bitcoin analysis on D1.
The Bitcoin's price breakout his trend line resistance at 6650 $ after three tries! Nothing is won yet but it's a good start for a new bull run in the end of the year.
Legends :
- Purple line (clear) : MA 10
- Purple line (dark) : MA 20
- Yellow line (clear) : MA 50
- Blue line (clear) : MA 100
- Red line (clear) : MA 200
Since mid-June, Bitcoin's price recorded higher low on D1. The last one was on October 10 at 6250 $.
Today is a major day to confirm this breakout. In the worst scenario, BTC's price close below the support at 6500 $.
In the best scenario, BTC's price close above 6650 $ (breakout price). If this scenario happen, the price closing will be above the MA 10, 20 & 50.
An other important point, is the highest register price at the time when i'm writing this idea. This is an other perfect trend line from april lower support.
Since this time, this line became a resistance. We'll see to the next level !
If you thinking about the yellow area, is just because for me it's an area without any resistance and support, an easy zone to reach toward a new support (I hope).
Thanks for your time guys !
Comment:
Great bounce on the previous trend line resistance !
Comment:
Perfect closing for the Bitcoin !
Trade active
Comment:
Support is strong enough for BTC
