BTC looks good.
Currently trading above the $8.2K resistance level. The daily close above this level is highly welcome. It will lead us to Bullish targets $9K/$9.5K/$10K.
My invalidation level for bulish scenario is $8050, daily close below this level.
On the other hand ... the nearest support level lies at $7.5K. But I would not bet on this level as a strong support. This level already been tested for several times and becomes more weaker. The more interesting support zone is $7250K - $7350. Which has not been tested yet. So, it would be interesting buying zone for mine.
Currently trading above the $8.2K resistance level. The daily close above this level is highly welcome. It will lead us to Bullish targets $9K/$9.5K/$10K.
My invalidation level for bulish scenario is $8050, daily close below this level.
On the other hand ... the nearest support level lies at $7.5K. But I would not bet on this level as a strong support. This level already been tested for several times and becomes more weaker. The more interesting support zone is $7250K - $7350. Which has not been tested yet. So, it would be interesting buying zone for mine.
Comment:
Bitcoin is testing the local resistance trend line. The 1st point of possible trend reversal.
Comment:
Rejection of this level could be followed by small drop down to $8300 zone.
I guess Bitcoin can test 8500 or it will go straight to 9000.
I guess Bitcoin can test 8500 or it will go straight to 9000.
Comment:
Local Trend line resistance was broken and Bitcoin marked $8929. Just a few $ from the 1st target. All targets remains active.
But ... It could be difficult to Bitcoin to get through zone between $8800 - $9100 because the previous $9K breakthrough was strongly rejected and price dropped almost $2000. History can be repeated. So, where could Bitcoin drop? Imo, it can be $8.2-$7.9K zone because of upscending triangle which is developing. In the worst scenario, Bitcoin can drop more closely to $7.0K mark.
But ... It could be difficult to Bitcoin to get through zone between $8800 - $9100 because the previous $9K breakthrough was strongly rejected and price dropped almost $2000. History can be repeated. So, where could Bitcoin drop? Imo, it can be $8.2-$7.9K zone because of upscending triangle which is developing. In the worst scenario, Bitcoin can drop more closely to $7.0K mark.
Comment:
Bitcoin testing an important resistance zone. All targets remains active. But be careful, because of the Double Top Candlestick pattern, which is forming. IT will be invalidated in case of daily close above $9450. If Bitcoin goes down, it would be around $8.0K zone or if Bitcoin go deeper it would be around $7.3K zone. Now, is better to do not buy BTC, but wait for further price action.
Comment:
Things are changing...Bitcoin did not close above $9450 and the Double Top Candlestick pattern is still in play.
Today, Bitcoin is decreasing and hit daily low in $8.9 zone. This drop means that BTC is below important trend S/R level (yellow line). On the other hand, It looks like the next Upscending Triangle is forming. Sumup - wait for Triangle breakout.
Today, Bitcoin is decreasing and hit daily low in $8.9 zone. This drop means that BTC is below important trend S/R level (yellow line). On the other hand, It looks like the next Upscending Triangle is forming. Sumup - wait for Triangle breakout.
Comment:
If we zoom out, Bitcoin looks good. Currently is testing the upward line of the Ascending Triangle as a support level.
Comment:
1H = Bullish - Ascending triangle seems to be still valid, the bottom line holds. Clean breakout of $9200 resistance without pullback. Potential fresh support. Next resistance the bottom line of Triangle. Local upward trend - HH and HL. RSI increasing and above Level 50. MACD bullish crossover with increasing green histogram.
1D = Bullish - Yesterday, successful re-test of $8900 as support. Seems to be strong and Bitcoin hodls above this level. Next S/RL $9500. RSI increasing again, Level 65. MACD bullish cross valid, Histogram green and increasing.
1D = Bullish - Yesterday, successful re-test of $8900 as support. Seems to be strong and Bitcoin hodls above this level. Next S/RL $9500. RSI increasing again, Level 65. MACD bullish cross valid, Histogram green and increasing.
Trade closed: target reached
