Bitcoin | Full analysis (weekly, daily and lower frames)
#BTC/USDT
Hello traders,
Here is a simple technical analysis summary for Bitcoin based on my view.
🔵Weekly Frame:
- 50 MA is holding the price and appear as the last chance for bulls and it's the only positive thing in the weekly chart above.
- till now we are under the ichemoku base line, closing weekly with full bullish candle may end the correction and even open the door for a new ATH.
- MACD crossed bearish.
- Next supports in weekly frame is 36500 (most likely will hold the price) and 30k.
In my opinion 50 MA will not be able to hold the price for too long and it we will see 36500 but we still considering 50 MA as a support till we see the performance on the weekly candle close.
🔵Daily Frame:
- Bitcoin was able to not close under 200 MA which is very good for the whole market, closing daily under it will make all the market.
and next expected rebounding support would be 36560.
- RSI is already oversold and that heavily support bulls.
- MACD is about to cross bullish but no confirmation yet.
- Unfortunately we are under very important resistance that may block bitcoin from going up once touching it, and the first important resistance is Ichimoku base line at 52600.
In one word, on daily frame It's fifty fifty between bulls and bears now but as long as we are above 200 MA BTC would go to test 52k, and closing under 200 MA we should see 36460.
🔵4H and lower frames:
- in 4h chart above, there is a huge resistance between 49k to 50k, closing above 50k with 2h candle would give you a scalping chance with target of 53k and 55k and you may place stop lose order under the Ichimoku base line on 4h chart.
🔵 You can also check this chart and its description for Monthly frame analysis
I hope many of you followed their stop-loss and a good strict risk management strategy.
Good luck everyone and stay safe!🌹
Hello traders,
Here is a simple technical analysis summary for Bitcoin based on my view.
🔵Weekly Frame:
- 50 MA is holding the price and appear as the last chance for bulls and it's the only positive thing in the weekly chart above.
- till now we are under the ichemoku base line, closing weekly with full bullish candle may end the correction and even open the door for a new ATH.
- MACD crossed bearish.
- Next supports in weekly frame is 36500 (most likely will hold the price) and 30k.
In my opinion 50 MA will not be able to hold the price for too long and it we will see 36500 but we still considering 50 MA as a support till we see the performance on the weekly candle close.
- Bitcoin was able to not close under 200 MA which is very good for the whole market, closing daily under it will make all the market.
and next expected rebounding support would be 36560.
- RSI is already oversold and that heavily support bulls.
- MACD is about to cross bullish but no confirmation yet.
- Unfortunately we are under very important resistance that may block bitcoin from going up once touching it, and the first important resistance is Ichimoku base line at 52600.
In one word, on daily frame It's fifty fifty between bulls and bears now but as long as we are above 200 MA BTC would go to test 52k, and closing under 200 MA we should see 36460.
- in 4h chart above, there is a huge resistance between 49k to 50k, closing above 50k with 2h candle would give you a scalping chance with target of 53k and 55k and you may place stop lose order under the Ichimoku base line on 4h chart.
🔵 You can also check this chart and its description for Monthly frame analysis
I hope many of you followed their stop-loss and a good strict risk management strategy.
Good luck everyone and stay safe!🌹
Comment:
Trade closed: target reached:
🔴 Bitcoin reached the next target at 36500.
I think this target is strong enough to hold bears.
But the most important thing is the monthly close, closing under 36500 is definitely bad and you can consider it your Stop-loss.
I think this target is strong enough to hold bears.
But the most important thing is the monthly close, closing under 36500 is definitely bad and you can consider it your Stop-loss.
Now we see pulls try to hold 200MA but it's important to close daily candle above it as closing under it is negative for the whole market and open the way down to 36k and 30k.
- In 4h frame we can see a bull flag is forming but if you want to trade it, you must wait the breakout (above 50k) with volume confirmation.
- In general Positivity will not back to BTC till we see a daily close above 51500 with an increasing volume.