The main downtrend line seems to be broken! It's a fresh break, so there is chance of it falling back. Bitcoin seems to have bottomed out at the bottom of a rising channel (orange) which might serve as the basis for a new-to-form trading channel. The red lines also indicate a possible trading channel. But of course it is hard to say what channels appear how and...
Here are some key levels to watch for the price of Bitcoin/Euro in one hour timeframe.
Notice the lagging span (and the price) actually encountering a resistance line of 8089€.
If the price gets over 8089€ then a next resistance might be 8394€.
Trading suggestion:
There is possibility of temporary retracement to suggested Buy Zone (6384.70 to 5110.00), if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
.Beginning of entry zone (6384.70)
.Ending of entry zone (5110.00)
Technical analysis:
Price is below WEMA21, if price rises more, this line can...
The minor trend of BTCEUR had been oscillating so far in a tight range of 7442.85 and 6325.92 levels.
In the recent past, bulls have managed to break-out this tight range as the current prices spikes above 7 & 21 SMAs.
Both leading (RSI & stochastic curves) and lagging indicators (7&21EMAs and MACD) have been indicating that the strength and uptrend...
Holders that bought below the purple trend channel sub €7200, should be good and could set a stop loss just below purple channel if it fails as a support.
That would spell bad business and put the grey dashed support lines and the green 2017 bottom channel on the table again.
I believe that LTC bull run might translate into good volume for BTC.
Buyers that...
Last time BTC broke the 7300-7500 EUROS resistance, it started a run up to 14,000 (see A).
Right now it is at that same level which coincides with middle of the boillinger band (B).
A break would IMHO signal a clear bull, up to 9600 euros in the short term.
But it could also not break this resistance and head down to re-test the 5200 bottom of the boillinger...
Price was stagnant the last couple of days which made trading pretty boring, but we are now seeing some movement. Over the next day I expect the price to fall to around €6947 where it will find support, and then bounce back higher giving traders the opportunity to take profits.
Correction is probably done. No dramatic flash crash wick but insane amount of volume. Good news and generally positive sentiment on twitter, especially since the dip chickens and now comfortable "after the facts" bears are calling 4k.
This is a game of not guessing direction but trading the strong support and resistance lines that were formed since November and...
