BITCOIN [BTC] Price Made a Strong Bullish Statement!!
As you see on the image above, all the mid-term down-trendlines are broken and the price is above of them!
Finally, the price can take some breathing time, it is out of the water (blue area)! :)
Firstly, I discovered that 200EMA record (post below on the list) on the 4H chart, it was an indication for further movement upwards and now we are above all the mid-term down trendlines plus altcoins make some good profits. Definitely, I can see a light from the end of the tunnel but is this too good to be true!?
If we watch that major picture then those all colored trendlines below the current price should act as support levels.
The strongest area/support below the current price would be around $3,765 (orange area):
There are nearest down trendline and the previous lower high which should work as a support level. So, if the price starts to fall a bit and if it wants to stay healthy then we can't drop again into the "water" (into the blue area). The price can't fall lower because after that we can hit the bottom like a rock from there, which is a bit unlikely but still, I don't want to see it. We need a bounce from the mentioned orange (if the price reaches there) area or simply, the price has to go a bit higher (around $4,000) where it can consolidate safely on the light-orange area above the major mid-term down trendlines. If we start to consolidate right now then it is pretty high changes that the price may drop back into the "water"/below the down trendlines but let's see, I'll try to keep you posted.
The next resistance levels are the previous lower highs or short-term higher highs, marked as blue horizontal lines:
A pretty high chance that the price may get stuck between those resistances for a while and it may print new data around those levels! Those are simply strong resistances and around those levels are also a daily EMA - EMA100 - which act also as resistance! So, the current bull run should find a stop between $4,000-$4,361!
SUMMARY: A very strong statement from the BTC price after it breaks all those down trendlines. The mid-term bullish run should continue from here but still, the price and the market should take a little breathing time (that's how the market works) and it needs a little consolidation time. I want to see that this consolidation happens higher then $3,950 because if it starts to consolidate around the blue and light-orange area it would be dangerous - the drop may come quickly and it would be heavy!
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*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Finally, the price can take some breathing time, it is out of the water (blue area)! :)
Firstly, I discovered that 200EMA record (post below on the list) on the 4H chart, it was an indication for further movement upwards and now we are above all the mid-term down trendlines plus altcoins make some good profits. Definitely, I can see a light from the end of the tunnel but is this too good to be true!?
If we watch that major picture then those all colored trendlines below the current price should act as support levels.
The strongest area/support below the current price would be around $3,765 (orange area):
The next resistance levels are the previous lower highs or short-term higher highs, marked as blue horizontal lines:
SUMMARY: A very strong statement from the BTC price after it breaks all those down trendlines. The mid-term bullish run should continue from here but still, the price and the market should take a little breathing time (that's how the market works) and it needs a little consolidation time. I want to see that this consolidation happens higher then $3,950 because if it starts to consolidate around the blue and light-orange area it would be dangerous - the drop may come quickly and it would be heavy!
Please, do not forget to support my idea post by hitting the "LIKE button!
Thank You very much!
Have a nice day!
Cheers!
*This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Commentaire:
"The next resistance levels are the previous lower highs or short-term higher highs, marked as blue horizontal lines:"
Commentaire:
Currently as planned, we are moved a bit higher but we need the final push which will guide us above the 4k level - a bit safer are!
We have EMA golden cross between 100 and 200 (red circle) which is also a very good sign if we think mid-term perspective!
You can support my idea by hiting the like!
Thanks!
We have EMA golden cross between 100 and 200 (red circle) which is also a very good sign if we think mid-term perspective!
Thanks!
Commentaire:
New BTC analysis:
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Thank you!
