Hi everyone, Canadian should be proud to get the first Bitcoin ETF. I would like to share my analysis with you.
There is 4 gap up to watch (possible retracements) : Maybe you know but Gap up are not always covered. bottom of gap 1 : 25.45 bottom of gap 2 : 22.99 bottom of gap 3 : 15.82 bottom of gap 4 : 11.61
Negative Points found / short term -Price is now under the 1D VWAP (dangerous) -Price touched the roof of the channel -Price is over the bollinger band -RSI in overbought territory -Bearish RSI Divergence now visible on 3h chart -Macd loosing momentum on the 3h and 4hr chart
Possible retracement from the last top if bulltrend is over : 0.5% fib : 15.88$ Golden fib 0.618 : 12.13$ 0.85% : fib 4.76$
Probable retracement from the last high if bulltrend continue : Golden fib : 18.32$ 0.5% fib : 20.88$
Most healthly support if Bull trend continue. EMA RIBBON currently in this rand : 22-23$ MA 21 (DAILY) currently at 23.23$ Bottom of Bollinger band : 17.41$ Bottom of Donchian Channel : 18.91$ Median of Donchian Channel : 25.31$
Thanks for leaving comment or anything else :-) You can find me on Twitter. Have a wonderful Christmas !!