BTC/USD - Live Update
What's up traders,
Well done to everybody who followed my latest analysis on Bitcoin!. We made significant profit with this analysis! (See related ideas for said analysis) I'm glad to be your one stop shop for constant, consistent, and profitable Cryptocurrency trades!
Remember, trade what you SEE not what you THINK.
Swiftly moving on, let's analyze BTC/USD on the 1D chart.
I posted a BTC/USD analysis lately, and it's so far gone perfectly to plan (See related ideas below for details of this analysis). The dynamics of the trade are the same, however, the candlestick behavior has become a bit more tricky, hence I am eager to update this analysis.
I previous eyed the 200 moving average at around 9800 as a resistance level, and when this level price did exactly as expected and began to fall. In my previous analysis, I reckoned there could be a strong downside correction, likely retesting the swing low at 7680.
When looking at the 4 hour chart now as it stands, I discovered a very important hidden support level at 8570. This support level is likely going to be a 200 major moving average support, with the 50 moving average converging also, along with massive structure support, which makes me think, will price go to 7680? Now, I'm not so sure.
Bitcoin could bounce at 8570, and go back to the upside, with a target of 11720. If price FAILS at 8570, then price could fall to around 6700. I am more appealed to the upside possibility at the moment though, due to the bullishness we've seen in Bitcoin over the last few weeks.
This 8570 level is crucial for Bitcoin, so be ready to act when it hits this level. It is a significant pivot.
I will update this analysis when I receive above 40 likes.
Well done to everybody who followed my latest analysis on Bitcoin!. We made significant profit with this analysis! (See related ideas for said analysis) I'm glad to be your one stop shop for constant, consistent, and profitable Cryptocurrency trades!
Remember, trade what you SEE not what you THINK.
Swiftly moving on, let's analyze BTC/USD on the 1D chart.
I posted a BTC/USD analysis lately, and it's so far gone perfectly to plan (See related ideas below for details of this analysis). The dynamics of the trade are the same, however, the candlestick behavior has become a bit more tricky, hence I am eager to update this analysis.
I previous eyed the 200 moving average at around 9800 as a resistance level, and when this level price did exactly as expected and began to fall. In my previous analysis, I reckoned there could be a strong downside correction, likely retesting the swing low at 7680.
When looking at the 4 hour chart now as it stands, I discovered a very important hidden support level at 8570. This support level is likely going to be a 200 major moving average support, with the 50 moving average converging also, along with massive structure support, which makes me think, will price go to 7680? Now, I'm not so sure.
Bitcoin could bounce at 8570, and go back to the upside, with a target of 11720. If price FAILS at 8570, then price could fall to around 6700. I am more appealed to the upside possibility at the moment though, due to the bullishness we've seen in Bitcoin over the last few weeks.
This 8570 level is crucial for Bitcoin, so be ready to act when it hits this level. It is a significant pivot.
I will update this analysis when I receive above 40 likes.
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