Bitcoin Bounce With $46,000 Potential Target? See Inside

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Bitcoin's price is bouncing after a higher low.

We have a potential target of $45k+ if EMA50 can be conquered first.

Strong resistance at $35,000 to $37,000...
Above this level we can hit $40,000+.

BTCUSD 4H Timeframe Chart Signals

We have some bullish signals on this chart:

  • MACD young bullish cross (This is an early signal)

  • RSI above 50.

  • Higher low in place.
    Prices bounced higher than 19-May.

The correction has been going long enough.

Leave a comment with your thoughts.

This is a short-term bounce.

The charts are always changing.

Plan BEFORE trading.

The altcoins will grow.

Comment: We are off to a good start...
We need a break from all this bear action.

We are looking up!
Comment: Bitcoin becomes money in El Salvador?

“They have to take it by law. If you go to Mexico, they have to take your pesos. In the case of El Salvador bitcoin is going to be legal tender just as the US dollar,” Bukule said.

This could be huge...
Entry $33000 - $35000


1) $38000 (hit)
2) $40500 (hit)
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Absolutely disagree ...

+7 Reply
AlanSantana CrypTrader31
@CrypTrader31, It needs time to develop.

Thank you for sharing.
CrypTrader31 AlanSantana
@AlanSantana, You're welcome.
FroggyFX CrypTrader31
@CrypTrader31, Interesting Chart but Death Cross? MA crosses are mostly meaningless as it can also cross back up again and down the next. MA lagging is out of this world.
Still on MA, looking at your chart - Price will most likely move back to the MA now and after that anything can happen.
Just as some traders can trade off the 1min chart successfully as much as some would trade a higher timeframe, this is not a knockdown but a heads-up! I like your wave count btw, could you do a smaller wave count with the Pennant as on your chart. .ty
@FroggyFX, The death cross makes a lot of sense when it occurs after a huge bullish phase, which it does.
+3 Reply
simplemath03 CrypTrader31
@CrypTrader31, Several death crosses have happened in the past pointing to a long term bear market, others to new all time highs in BTC. Still too early to call yet. Other note is on the MACD on your chart we have a crossing at the same level as the peak of the bull run so it could still go either way at this point (though I'm leaning towards the same way as @AlanSantana).
+1 Reply
CrypTrader31 simplemath03
@simplemath03, unfortunately too much bearish signals ...
AlanSantana CrypTrader31
@CrypTrader31, It needs time to develop... It is going towards the bulls. Looks closer.
CrypTrader31 AlanSantana
@AlanSantana, just a new bulltrap ;)
+2 Reply
FroggyFX CrypTrader31
@CrypTrader31, Really?
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