As I have already mentioned in my last day chat that most of the alt coins are pumped except bitcoin that means peoples are investing in alt coins instead of bitcoin that's why bitcoin has low volume at the moment. Yesterday BTC was pumped as well its volume increase from 4M to 9+M and it break it main resistance of 18k. Now its trying to hold 18k area which is very crucial for further upward movement. If you look at the chart you can see what happened after first Bear Flag and now in 2nd Bear Flag it will try to touch 18500. Right now 18400 is main support for this and it should hold it and even it can be break after CPI Data but be careful because it could be fake breakout.
Bitcoin is up from 100MA and wait for the close of day candle as well. As I have already told that If bitcoin rises above 17588 a probable bullish point is anticipated.
BTC is still moving with bear flag and has touched its main resistance at 18400 and Its trying to hold 18k for further upward movement.
Today there will be volatility because of CPI Data. I think there will be some upward movement and after this it will be down or may be it will not go up but it can retest 18400.
17588 is strong support at the moment and if breaks then 16430 will be last strong support for BTC . Bitcoin idea is still same but at the moment we need to see the CPI Data.
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
Bitcoin is up from 100MA and wait for the close of day candle as well. As I have already told that If bitcoin rises above 17588 a probable bullish point is anticipated.
BTC is still moving with bear flag and has touched its main resistance at 18400 and Its trying to hold 18k for further upward movement.
Today there will be volatility because of CPI Data. I think there will be some upward movement and after this it will be down or may be it will not go up but it can retest 18400.
17588 is strong support at the moment and if breaks then 16430 will be last strong support for BTC . Bitcoin idea is still same but at the moment we need to see the CPI Data.
In a big picture its still bearish till 13K - 14K or may be more down to 10k. Its main support is 15300 and Bitcoin has not touched its bottom till now because no one know how much it can go down but if you see the over all market and Bitcoin chart you will see that if it break 14k area then 10k will be the crucial for Bitcoin and buyers. At this time buyers and sellers both want more down.
It will be bullish whenever it will cross 30k.
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!