Bitcoin (BTCUSD) Support Found? Price Action (11-Jan)

11 ene 2019

Bitcoin had a huge drop which put us below MA200 (black line) on the 4h chart. Finding support around $3687.2 which is the same level as back in December 27 (Bitcoin found support at $3686), making this a double bottom.

On top of this signal, we also have an oversold RSI with hidden bullish divergence and several reversal candlesticks, but still to early to say as volume is lacking.

If Bitcoin can test and remain above $3665, then a bounce up is very likely. For a bounce to be confirmed, we need a high green volume breakout... Wait for signal... This is no trade advice.

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11 ene 2019

Nota

Bitcoin (XBT) Trade on BitMEX based on the signals above:

11 ene 2019

Nota

If our support fails expect the "red" scenario:

12 ene 2019

Nota

We are looking at a double bottom on the 1h TF. Hourly candle is yet to close: