Bitcoin recently bounced off the 12hr cloud support / 50 day MA. Still going to be optimistic as long as the 12hr cloud holds up the price. There's a good chance we are consolidating at this level for a big move up leading into a kumo twist breakout on the Daily time frame. This also coincides with a TD 9 reversal signaling for a buy on the weekly count.
It's in the realm of possibility to meet up with tenkan on daily (which also happens to be overlapping with 200 EMA on daily). I've marked that the point where it could potentially meet w/ a blue circle on the chart.
Markets are still choppy while Bitcoin is bearish but one thing is for sure - when crypto is ready it will bounce very hard. Try to avoid over trading. Be patient and let the market come to you, don't rush to the market. Good luck!
Buy Zone: $8800 (50% Fibonacci retrace of the total move)
It's in the realm of possibility to meet up with tenkan on daily (which also happens to be overlapping with 200 EMA on daily). I've marked that the point where it could potentially meet w/ a blue circle on the chart.
Markets are still choppy while Bitcoin is bearish but one thing is for sure - when crypto is ready it will bounce very hard. Try to avoid over trading. Be patient and let the market come to you, don't rush to the market. Good luck!
Buy Zone: $8800 (50% Fibonacci retrace of the total move)