BTC bullish move

Bitcoin overperformed my bullish targets and pumped to 7800. Showing week chart to understand what's going on. First resistance zone left after November/December 2019 is the one that stopped the pump now. Next will be zone between 8000 and 8200 (roughly). Can be hit within this week. But since any major BTC move requires decent amount of liquidations, I believe it is possible that before halving Bitcoin will pull back to 7170 or 6400 again.

Resistance: 8050 - 8200 - 8300 - 8550
Support: 7300 - 7170 - 6855 - 6625

P.S. 17 days and 22 hours till halving. Don't expect price to pump on the same day. It never did before. After halving there might be a month of consolidation and uncertainty, before it start growing.

Comment:

Bitcoin draw bull flag. Bullish move should take it to 8000 and 8300 (roughly). But since any major move requires decent amount of liquidations/liquidity, we may see it pullback first. Check out chart history from March 30th to April 9th. This was a short uptrend, same we may expect here as well. The angle of this uptrend will be determined by bounce zone. Nearest strong support is at 7280 - 7170.

Resistance: 7800 - 8050 - 8300 - 8550
Support: 7475 - 7280 - 7170 - 6900 - 6620

😱 Fear & Greed index: 24 (<= 20 <= 19 <= 19 <= 17)
👑 BTC Dominance: 63.7% (<= 63.9 <= 63.5 <= 63.5)
⚙️ 24h Volume: $127 billion (<= 152 <= 130 <= 115 <= 124)

Comment:

BTC finally broken 7800 resistance and moves towards 8050 and 8300 resistance zones. Now is a good moment to remember about CME futures gap left after March market dump (between 9060 and 8280). Its close as never before 😃 Also one important indicator many track is 200 EMA at day TF - now it is at 7848. So if day candle close above, that will be another confirmation for bullish move continuation.

Resistance: 8050 - 8300 - 8535 - 9100
Support: 7800 - 7600 - 7475 - 7280 - 7170

😱 Fear & Greed index: 26 (<= 27 <= 26 <= 21 <= 24)
👑 BTC Dominance: 63.7% (<= 63.9 <= 63.8 <= 63.6)
⚙️ 24h Volume: $138 billion (<= 128 <= 143 <= 117 <= 152)

Comment:

Bitcoin grown by 22% from yesterday. You can never be ready for its impulse moves. Whether direction is up or down, it always exceeds expectations of majority. In our case we expected it at 9100, maximum at 9220, but it wicked to 9480.

Lets address pure numbers. Since March dump Fibonacci 0.5 is at ~6666 and 0.618 at 7340. SR at 7170 is year open/close price. These are mid term retracement targets (if that was the top). If it will continue growing today next target is 10k.

Resistance: 9220 - 9600 - 10000 - 10555
Support: 8530 - 8300 - 8000 - 7700 - 7555

😱 Fear & Greed index: 26 (<= 27 <= 26 <= 21 <= 24)
👑 BTC Dominance: 65.7% (<= 63.7 <= 63.9 <= 63.8)
⚙️ 24h Volume: $246 billion (<= 138 <= 128 <= 143 <= 117)

Comment:

Month candle closed. Not only recovered from March dump, but made bullish engulfing. What next? Its bullish trend and 11 days left till halving. Just remember it.

While above 8630 bullish and possess potential to retest 9100-9200. If drop below, nearest target zones 7950 / 7666. Small chance whales will create themselves liquidity by dumping it lower to 6500-6855 zone, but I doubt that.

P.S. CME gap left since Aug'19 between 11695-11855

Resistance: 9200 - 9600 - 10000 - 11500 - 12900
Support: 8630 - 8400 - 7950 - 7700 - 7555

😱 Fear & Greed index: 40 (<= 44 <= 26 <= 27 <= 26)
👑 BTC Dominance: 65.3% (<= 65.7 <= 63.7 <= 63.9)
⚙️ 24h Volume: $196 billion (<= 246 <= 138 <= 128)

Comment:

Bitcoin draw bull flag. Volume drops which signals that another sharp impulse move is coming very soon. Probably today. Will it be pump or dump, no one can say for sure. But halving in 10 days, so that is a massive bullish fundamental factor.

While above 8630 bullish and possess potential to retest 9100-9200. If drop below, nearest target zones 7950 / 7666. Small chance whales will create themselves liquidity by dumping it lower to 6500-6855 zone, but I doubt that.

P.S. Last existing CME gap left since Aug'19 located between 11695-11855

Resistance: 9200 - 9600 - 10000 - 11500 - 12900
Support: 8630 - 8400 - 7950 - 7700 - 7555

😱 Fear & Greed index: 40 (<= 40 <= 44 <= 26 <= 27)
👑 BTC Dominance: 65.5% (<= 65.3 <= 65.7 <= 63.7)
⚙️ 24h Volume: $144 billion (<= 196 <= 246 <= 138)

Comment:

Bitcoin makes higher lows and lower highs, forming another bull pennant. Recent price action with bounce from 8850 made it look bullish/ EMA 21 also moved to that value, making it even stronger support. With little less then 7 days to halving I wouldn't dare to short BTC (even though I don't think that "event" will make any instant impact).

Resistance: 9230 - 9600 - 10000 - 10550
Support: 8850 - 8630 - 8400 - 7700 - 7170

😱 Fear & Greed index: 40 (<= 44 <= 45 <= 40)
👑 BTC Dominance: 66% (<= 65.9 <= 65.6 <= 65.5)
⚙️ 24h Volume: $151 billion (<= 163 <= 154 <= 144)

Comment:

Today Bitcoin wicked above yesterday's HH and moves right under 0.786 Fib level. Not the most important, but still act as resistance. Brea above resistance at ~9200 should give strong impulse from liquidations and stops. Nearest support at 8900, minor at 9030.

Twitter fills up with warnings about big amounts of ETH moving to exchanges. The closer we are to BTC halving the closer we are to big market dump. Remember - sell the news. Bitcoin will have plenty of time to grow later.

Resistance: 9230 - 9600 - 10000 - 10550
Support: 8900 - 8630 - 8400 - 7700 - 7170

😱 Fear & Greed index: 42 (<= 40 <= 44 <= 45)
👑 BTC Dominance: 66.2% (<= 66 <= 65.9 <= 65.6)
⚙️ 24h Volume: $145 billion (<= 151 <= 163 <= 154)

Comment:

Another night test of 9405 ended up with 4.15% dump to 9025 and pump back up. All in 1 hour swing. No doubts, Bitcoin is a stops hunting champion. Till now every dip is bought out. I think next time we should expect higher wick, even it will end up with another dump. Same SR zones for targets. Nothing really changes since the beginning of May. Same forecast.

Yesterday post: Nearest support at 8900, minor at 9030.

Resistance: 9480 - 9600 - 10000 - 10550
Support: 9030 ✅ 8900 - 8630 - 8400 - 7700

😱 Fear & Greed index: 49 (<= 42 <= 40 <= 44)
👑 BTC Dominance: 67% (<= 66.2 <= 66 <= 65.9)
⚙️ 24h Volume: $164 billion (<= 145 <= 151 <= 163)