Hi everyone
Bitcoin right now is on the sideways moving. soon or later has to move either side. before I analyze it, have to say
this analyze based on bearish possibility that may not happen completely . if that was easy to predict in mid term the market makers
had to shout down their job. so it could be validate only for bear situation otherwise the mid term part is not validate.
SO...
on the weekly chart if we consider MACD indicator the macd line crossed the signal line below that confirm we could
experience downward pressure in weeks coming. we have some strong levels to break the most important is 50EMA
(orange line) somewhere around 9200 to 8800 level. more declining possible if the main support breaks to my blue box zone.
....................................................
on daily chart I drew three area( green, red, grey zones) that price may test them in short to mid term.
right now price is moving below the 50EMA upper than 200EMA so those levels are acting as our resistance and support level.
MACD line is going to cross the signal line if it happens price declines more to 200EMA that is our temp support. it could decline
more to the Grey zone but not expected for short term. I still believe we may test the Green zone on my chart it's possible.
.....................................................
on 4h chart as I mentioned first, the price is moving in sideways. if the price closes below 10500 it declines to my zone 1 in
short term. but may go upward to my triangle I drew on 4H chart. Zone 2 and Zone 3 are the next area that BTC may test
them in mid to long term.
Enjoy the market
Bitcoin right now is on the sideways moving. soon or later has to move either side. before I analyze it, have to say
this analyze based on bearish possibility that may not happen completely . if that was easy to predict in mid term the market makers
had to shout down their job. so it could be validate only for bear situation otherwise the mid term part is not validate.
SO...
on the weekly chart if we consider MACD indicator the macd line crossed the signal line below that confirm we could
experience downward pressure in weeks coming. we have some strong levels to break the most important is 50EMA
(orange line) somewhere around 9200 to 8800 level. more declining possible if the main support breaks to my blue box zone.
on daily chart I drew three area( green, red, grey zones) that price may test them in short to mid term.
right now price is moving below the 50EMA upper than 200EMA so those levels are acting as our resistance and support level.
MACD line is going to cross the signal line if it happens price declines more to 200EMA that is our temp support. it could decline
more to the Grey zone but not expected for short term. I still believe we may test the Green zone on my chart it's possible.
on 4h chart as I mentioned first, the price is moving in sideways. if the price closes below 10500 it declines to my zone 1 in
short term. but may go upward to my triangle I drew on 4H chart. Zone 2 and Zone 3 are the next area that BTC may test
them in mid to long term.
Enjoy the market
Comment:
ABC correction
Comment:
Trade closed: target reached:
Comment:
wave (4) of C from ABC correction
