✴️ BTC Update #BTC_Update
What's up with Bitcoin today, guys? Great news for us, the BTC has finally broken its resistance zone, the one I've been telling you about since the beginning of the week not without a certain amount of weariness.
So that zone is now broken, what's next?
From a technical point of view the indicators are rather positive with a daily MACD cross that seems imminent. On a 4 hour horizon, the technical situation is overbought, which does not exclude a correction.
📈 Trend follower?
Positive in 1 hour and negative in 4 hours and daily.
👉 What can be done?
Let's analyze the Fibonacci retracements in the short term to find a good entry point! As I could read in the chat, Bitcoin has indeed bounced back on the 23.6% Fibonacci traced since the last big swing low.
If we trace from the intermediate low swing, we quickly notice that the famous resistance zone coincides with the 50 and 61.8 - 65 Fibonacci retracement zone.
We've been talking about this since the beginning of the week, so we're going to open a long position on pullback!
💹 Altcoins
The evolution on the alts market has been fairly neutral since the beginning of the session with a little more up than down but overall, the balance is maintained, for the moment.
Stay safe guys!
Enjoy our analysis!
Your 4C-Trading Team 💚
What's up with Bitcoin today, guys? Great news for us, the BTC has finally broken its resistance zone, the one I've been telling you about since the beginning of the week not without a certain amount of weariness.
So that zone is now broken, what's next?
From a technical point of view the indicators are rather positive with a daily MACD cross that seems imminent. On a 4 hour horizon, the technical situation is overbought, which does not exclude a correction.
📈 Trend follower?
Positive in 1 hour and negative in 4 hours and daily.
👉 What can be done?
Let's analyze the Fibonacci retracements in the short term to find a good entry point! As I could read in the chat, Bitcoin has indeed bounced back on the 23.6% Fibonacci traced since the last big swing low.
If we trace from the intermediate low swing, we quickly notice that the famous resistance zone coincides with the 50 and 61.8 - 65 Fibonacci retracement zone.
We've been talking about this since the beginning of the week, so we're going to open a long position on pullback!
💹 Altcoins
The evolution on the alts market has been fairly neutral since the beginning of the session with a little more up than down but overall, the balance is maintained, for the moment.
Stay safe guys!
Enjoy our analysis!
Your 4C-Trading Team 💚
