BTC/USD 1 Month TA Projections

13 Mac 2018

A look at Btc/Usd 4hr candles, since Bitcoins low of 6k we have seen resistance at around 11.6-11.7k(red) on two occasions. We see a strong trend line from the all time high(black) If we are able to break this trend line this would be very bullish sign. Although with the 50MA crossing the 200MA is a very bearish sign, which could result in the testing of the yellow trend line. If the yellow trend line is broken we will see another test of 6k(cyan). If bitcoin is able to break the black trend line we will see a retest of the 11.6-11.7k resistance if its not able to break this resistance level we could see a test of the shorter trend from the low of 6k (dark green). First time publishing any type of trend analysis, hope you enjoy my thoughts!