Yesterday, after touching the 41K resistance, we saw a drop to the support of $ 37,800, and now we have seen a rise in the floor of the bullish channel, which we have been in since January 28.
According to the 4-hour MACD indicator, which is declining and at a high level, we have two scenarios:
Given that a good 4-hour candlestick is closing and the...
Moving20 days Moving has stopped 50 days
In 1 hour time frame
Together, they cut off 200 days of Moving
And it's a sign of falling prices
But in 4-hour time frame
If we lose 9100 support
We have a price drop of up to 8900
And after that, Moving support remains 200 days
At $ 8750
If the candles are closed under Moving 200 days in 4 hour time frame up to...
We are on the $ 10,000 to $ 8400 channel
Today's Bitcoin is in the range of 8950 to 9200
If we support $ 9250 and break the resistance level
For short-term goals, 9350 could be the next goal
But if the $ 9100 support is broken, the bottom of the channel may collapse
We are currently in a downward trend. The 20-day moving average has cut off the 50-day moving average
If we stabilize the price under the Kendall cloud and the conditions fall
We can touch the 200-day moving on the bottom of the channel
Hi, with the loss of $ 9300 support, we will see the price drop to $ 9100
If we lose the support of $ 9,100, the price will continue to fall to $ 8,800
If the price goes back to $ 9300 and we get support
Again, the price goes back to 9600
We got an Ascending Channel at 1H Timeframe. Currently price was supported by the Mid Line of the formation and testing the 50 MA. If 50 MA will be broken then 9.800$ and 9.900$ Resistances can be retested. Also we might test the 10k$ (it's also the Higher Boundary of an Ascending Channel)
If the Mid Line support is lost then setup will be invalidated. And...
Bitcoin seeks to stabilize above $ 9,800
If it gets local support, it will cost $ 10,000 in the first Target
But if it loses $ 9,600 support
It will be in a downward trend again
And it can reach $ 9,500 and $ 9,300
We have the Symmetrical Triangle is complete and price breaking its higher boundary. In case the breakout confirmed we can take a long position. Target that expected to be hit is 10.000$ Resistance as least
Price forming a Symmetrical Triangle and currently sitting on the 50 MA Dynamic Support + 9.300$ Horizontal Support. Breakout of this Support Node will be a strong bearish sign and in this case we can retest the 8.935$ Support, then 8.400$ Support Zone.
However while we hold this support the local trend remains bullish. Plus as we have the Symmetrical Triangle we...
Pullback to 9.300$ Support + 50 MA I was telling about in previous update occurred.
As we stay above 50 MA Dynamic Support our local priority stays bullish, and we still keep the long position with a stop-loss below 50 MA.
However I am also prepared for short in case we lose the 50 MA. In this case 8.935$ Support will be retested and if the one is broken then...
BTC broke the 50 MA and reached our first target after that. We have another +4.50% of clear profit. Overall this setup brought us +7.2% of clear profit.
Now it's simple if we break and fix above 9.600$ Resistance then 10.000$ Resistance will be retested. If not then pullback to 9.300$ will happen
Still waiting for the breakout of 8.935$ resistance. Overall things are the same since I published an idea on yesterday.
However I would note if we take a rejection of 8.935$ resistance then support zone around 8.400$ can be retested
If we enter the $ 9000 channel
We can be optimistic about the upward trend
If the horizontal resistance is broken at $ 10,500 and $ 10,200
Conditions will rise
But if the support of 8400, 8200 and 7800 is broken, we are still in the downward channel