Bitcoin Short-Term Bullish (Teaching / Learning)

23 jul 2020

We are now going back to my short-term analysis and this time we can finally read some bullish signals.

All of the previous short-term charts were bearish signals we looked at so this will be different... I was looking forward to this one and hope to receive your support.

Feel free to hit LIKE to get started!


Here we have Bitcoin (BTCUSD) on the 4H timeframe.

The first thing we look for is the RSI and MACD on this one... Both are strong on the bullish side.

The trading volume is pretty shy, so we take it only as a continuation signal after the breakout.

We are also using our Fibonacci tool... This is a great tool.

We used the blue dashed line as support.
Here we can see that also EMA200/100 and MA200 all coincide with this level as support.
In case of a drop, this is where the drop stops short-term.

The dashed magenta lines are the main targets... A small rejection happened at the 0.786 Fib. extension... Above this level, we go strongly bullish and prices continue to grow.

Bitcoin (BTCUSD) is now printing "strong consolidation" short-term because prices remain with multiple candles closing above EMA10.

If you want to see this move before it developed, take a look at my previous charts:

Make sure to leave a comment if you have any questions, have anything to share, or would simply like to show your appreciation and support... This is all highly appreciated.

Namaste.