BTC/USD - Levels To Buy
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In my previous analysis I predicted an upside move from a horizontal support zone (between 6300 and 6210) which did happen, however we did fail to hit the top resistance zone target. After the small move up, it appears momentum has been lost, and price is once again falling back towards the horizontal support zone mentioned. I need to see price bounce on the horizontal support zone before we see higher prices again.
As it stands, price is falling after reversal candlesticks showed a lack of steam from the bulls. There is also strong 20 moving average resistance, and a Fibonacci retracement resistance level that were hit, supporting we've hit a ceiling for the time being, and will be going lower before the next buy.
I am expecting price to now stall down to either the horizontal support zone between 6300 and 6210, or lower, to the long term side-wards support line at 5390.
Although we are not getting big up moves, at least we're profiting from the small up moves I am predicting, which means even though the market is down, we are still taking home some nice profits, which is great. Be nimble in the market, and it will treat you well.
I will continue to update this analysis providing enough people request it.
Please leave a LIKE and follow, this is my entire motivation to post !
As it stands, price is falling after reversal candlesticks showed a lack of steam from the bulls. There is also strong 20 moving average resistance, and a Fibonacci retracement resistance level that were hit, supporting we've hit a ceiling for the time being, and will be going lower before the next buy.
I am expecting price to now stall down to either the horizontal support zone between 6300 and 6210, or lower, to the long term side-wards support line at 5390.
Although we are not getting big up moves, at least we're profiting from the small up moves I am predicting, which means even though the market is down, we are still taking home some nice profits, which is great. Be nimble in the market, and it will treat you well.
I will continue to update this analysis providing enough people request it.
Please leave a LIKE and follow, this is my entire motivation to post !
Note
Price appears to have bounced really well at the support zone as predicted in my analysis. I am expecting further upside from here, perhaps to around 7250, where I predict the 200 moving average will be trading in 3-7 days.My premium Cryptocurrency group members are already in a Bitcoin trade, and looks like it'll be a profitable one.
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