Good morning, I hope everyone is well.
Taking a look at bitcoin in the daily chart , we can observe a clear ascending channel , through which bitcoin has been dancing between supports and resistances.
The much respected golden cross is happening on the daily chart , which boosted us to 10,300 with a strong pullback at 9,280, an area reflected in the chart as a good medium and long-term shopping area for swing traders, taking as stop loss or invalidation point 9,070. With the advantage of having the 200MA just around 9,400 in the 4-hour chart.
In addition, in the 1-hour chart, for scalp lovers, we could suggest a ticket between 9,600 / 9,550 with a small stop loss, to try to take a good position in the short term.
** An important point to take into account is that we are below the .382 level of fibonacci in the daily chart (Taking the lowest point of 2018 and the highest price of 2019) which could be used for a perfect setup for bearish operations. Using 9,840 as an invalidation point and aiming at 9,200 and 8,500.
Only if we manage to sustain the price above 9,800, can we consider the objectives of 11,400 and 12,500.
At the fundamental level, we must keep an eye on pre- and after-halving behavior.
Taking a look at bitcoin in the daily chart , we can observe a clear ascending channel , through which bitcoin has been dancing between supports and resistances.
The much respected golden cross is happening on the daily chart , which boosted us to 10,300 with a strong pullback at 9,280, an area reflected in the chart as a good medium and long-term shopping area for swing traders, taking as stop loss or invalidation point 9,070. With the advantage of having the 200MA just around 9,400 in the 4-hour chart.
In addition, in the 1-hour chart, for scalp lovers, we could suggest a ticket between 9,600 / 9,550 with a small stop loss, to try to take a good position in the short term.
** An important point to take into account is that we are below the .382 level of fibonacci in the daily chart (Taking the lowest point of 2018 and the highest price of 2019) which could be used for a perfect setup for bearish operations. Using 9,840 as an invalidation point and aiming at 9,200 and 8,500.
Only if we manage to sustain the price above 9,800, can we consider the objectives of 11,400 and 12,500.
At the fundamental level, we must keep an eye on pre- and after-halving behavior.