Hey, I am back with another Constantly updated Bitcoin Idea, where I look at Bitcoin's Moves, and trying to explain to you why that or that happened, or what can we expect in short time from Bitcoin.
I am really glad you liked mine last Bitcoin idea with Constant updates, would you like me to keep this Bitcoin constant updates Ideas with explanations regularly?
Let me know down in comments if you are interessted in more similiar Analysis.
Okay, but lets focus on Bitcoin now.
Bitcoin has seen Inversed head and shoulder 19,3% runup from 6360 right to 7588, after hiting that level it found ressistance and started to consolidate looking for support. If we consider 7246 low for this breakout as a support its still consider as healthy breakout consolidation (4,51%).
Moves that Bitcoin is are showing are really strong, because after such a strong wave we should see some deeper consolidation - profit taking or downtrend for a while, but this time Bitcoin looks really strong, each time it finds support and confirm this support its immediately going for testing Ressistance. Its a strong when Bitcoin was the whole 1h timeframe in selling wave and still managed to remain this strong.
So whats next, is Bitcoin about to see another strong breakout soon?
Well we have to Consider that Bitcoin cannot just nonstop moving upwards, Bitcoin has to cool off from such a breakout at least for a while, this cool off is mostly seen as consolidation. When the 4H RSI was above 90 level, I knew Bitcoin will fall in price a bit but I expected it wont be much downfall, it havent really fallen when you consider the average price in this post breakout channel is almost in middle which shows that buyers are ready to buy from sellers, even at this high RSI price, in simple you can see that when RSI found support at high level.
If Bitcoin can keep in this trading range for a while and cool off RSI at 4H, it would be Ideal and healthy Bounce of 70-60 RSI level.
Also there is one more way for Bitcoin, if daily finds ressistance at 7400 level, which has Bitcoin found before the 20k breakout, it may flash crash and then bounce back,but overall average gains and demand looks good, I will keep you updated about this!
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel, you can also find there Trading patterns, advices, or ask me for a TA on demand without any fee! Invitational link is in mine description!
Hope I made your view on whats going on with Bitcoin somewhat clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
I am really glad you liked mine last Bitcoin idea with Constant updates, would you like me to keep this Bitcoin constant updates Ideas with explanations regularly?
Let me know down in comments if you are interessted in more similiar Analysis.
Okay, but lets focus on Bitcoin now.
Bitcoin has seen Inversed head and shoulder 19,3% runup from 6360 right to 7588, after hiting that level it found ressistance and started to consolidate looking for support. If we consider 7246 low for this breakout as a support its still consider as healthy breakout consolidation (4,51%).
Moves that Bitcoin is are showing are really strong, because after such a strong wave we should see some deeper consolidation - profit taking or downtrend for a while, but this time Bitcoin looks really strong, each time it finds support and confirm this support its immediately going for testing Ressistance. Its a strong when Bitcoin was the whole 1h timeframe in selling wave and still managed to remain this strong.
So whats next, is Bitcoin about to see another strong breakout soon?
Well we have to Consider that Bitcoin cannot just nonstop moving upwards, Bitcoin has to cool off from such a breakout at least for a while, this cool off is mostly seen as consolidation. When the 4H RSI was above 90 level, I knew Bitcoin will fall in price a bit but I expected it wont be much downfall, it havent really fallen when you consider the average price in this post breakout channel is almost in middle which shows that buyers are ready to buy from sellers, even at this high RSI price, in simple you can see that when RSI found support at high level.
If Bitcoin can keep in this trading range for a while and cool off RSI at 4H, it would be Ideal and healthy Bounce of 70-60 RSI level.
Also there is one more way for Bitcoin, if daily finds ressistance at 7400 level, which has Bitcoin found before the 20k breakout, it may flash crash and then bounce back,but overall average gains and demand looks good, I will keep you updated about this!
So I think thats about it.. If you have any Questions feel free to ask me down bellow or at my Discord channel, you can also find there Trading patterns, advices, or ask me for a TA on demand without any fee! Invitational link is in mine description!
Hope I made your view on whats going on with Bitcoin somewhat clearer.
If you like this Technical Analysis let me know in the comments, Likes are aprreciated, Thanks !
If I see something worth to share on the chart I will surely do an Update.
Komentarz:
Denied once again looking for a support.
Komentarz:
Either Bitcoin will see a Bounce or another wave of sellers that may push the price at 7300 range.
Komentarz:
2H Rsi testing 60 support..
Komentarz:
On 15 min you can see a Head and Shoulders bearish pattern, luckily Bitcoin has found some support.
Komentarz:
Also 15 Min candles looks like are drawing Head and shoulders
Komentarz:
About to test 7460, If candle closes above 7450 Head and shoulders should be considered as invalid.
Komentarz:
Seems like it got denied again but its finding some support, this is last update for today, bedtime! See you soon.
Komentarz:
Update after a long busy day, finding some support at 60 but a weak one
Komentarz:
Still in the same trading range, if at least 1h candle closes fully above or below, it should be a strong selling or buying impulse.
Komentarz:
One way or another, if ressistance or support gets broken, Bitcoin will see a strong breakout or breakdown.
Komentarz:
Strong RSI.
Komentarz:
Quick update
I wanted to do today another Bitcoin constant updated idea but, as I went from the gym i ve felt really sick, likely a heatstroke from dehydration or fast climate change. so no Btc TA today, hopefully tommorow I would be albe to do another Bitcoin constant udpatet TA, stay tuned.
I wanted to do today another Bitcoin constant updated idea but, as I went from the gym i ve felt really sick, likely a heatstroke from dehydration or fast climate change. so no Btc TA today, hopefully tommorow I would be albe to do another Bitcoin constant udpatet TA, stay tuned.
