#Bitcoin drop to support level around $6,200.00. This support level won`t be very easy to beak. This drop could be a shake out before a move up. Would be nice to see #Bitcoin breakout on a day when stocks are crashed;)
Let`s hope for the best!
BTC breakout from the descending trendline. For now we need to see price stay above trendline and break the 0.618 fib level with more volume to confirm bull run.
We also noticed some big bullish divergences. Take a look at RSi and MAC, both of them are showing bullish divergences on the 4h time frame.
We can expect this sideways movement for several day. Bulls need to get above 6600 at least to prevent a big drop below 6k. At the moment the bears are in full control.
So unless the 6600 breaks, the bears will keep 100% control.
#Bitcoin storngly holding 0.706 level and has held it 4 times. This is the 4th time it is attempting to break the support. Let`s hope for the best!
After the break out of 8600 a new bull run is Highly Likely. Good days will come soon!
As you know fibonacci retracement happens a lot in the world of bitcoin. The magic number we are looking is 0.618.
Currently we are at the 0.618 level again and if you look at the bottom of the image you will see that the RSI is very low and we have enough momentum, very likely we will see a run up.
We have broken the major resistance (blue line). This is a major breakthrough and as long as we stay above it for a couple of days we will be fine. The RSI (relative strength index) is above 70 now, we didn't go above 70 RSI for a couple of months now. The last time we went above this RSI level is December (orange circles in image). 70+ RSI could be a bad thing...
Ether and bitcoin are a security! When this news came out BTC price rocketed from 6350 to 6700. Now we need to break this 6700 resistance. If 6700 is done than we will see 7000 soon. Volume is still a little weak but maybe new investments will come in soon because of this news. Could it be we have already seen the bottom and will now go up? Maybe you remember our...
#BTC broke trough 6500 during the day. Next support is 6120, after that it is 6000.
Bitcoin is at a good price to buy again. Take your change but wait for the break upwards!! It looks like we will hit that 6000 again, this sounds like a nice number to make a reversal don't you think so?