What's up traders,
Here we are analyzing BTC/USD on the 8H chart.
I posted a BTC/USD analysis a week ago, and it has all gone perfectly to plan so far, thus I am eager to update this idea further.
At current, price is trading at 10540, after a breakout move ignited by a support on the 20 and 50 moving average.
Price will now likely test the horizontal resistance zone, and the 200 moving average at 10520. Coupled with the fact that price will likely test the side-wards support and coinciding moving average support at approximately 9700.
I am expecting Bitcoin to remain impulsive for the time being. There will be corrections along the way but ultimately price will likely see price at around 17000. This however, could take some time.
Bare in mind, that I'm expecting a long term increase in Bitcoin over time. My arrows on the chart don't represent the longevity I would expect for target to be achieved.
I will update this analysis when I receive above 40 likes.
Here we are analyzing BTC/USD on the 8H chart.
I posted a BTC/USD analysis a week ago, and it has all gone perfectly to plan so far, thus I am eager to update this idea further.
At current, price is trading at 10540, after a breakout move ignited by a support on the 20 and 50 moving average.
Price will now likely test the horizontal resistance zone, and the 200 moving average at 10520. Coupled with the fact that price will likely test the side-wards support and coinciding moving average support at approximately 9700.
I am expecting Bitcoin to remain impulsive for the time being. There will be corrections along the way but ultimately price will likely see price at around 17000. This however, could take some time.
Bare in mind, that I'm expecting a long term increase in Bitcoin over time. My arrows on the chart don't represent the longevity I would expect for target to be achieved.
I will update this analysis when I receive above 40 likes.
