BITCOIN/USD 1D Technical Analysis
Bitcoin is now trying to break out of it's descending channel.
-Price has touched the upside of the channel twice and it's bottom 3 times;
-It rejected twice the support zone of 6400-6700;
For this to be confirmed as a real breakout and make a big move to the upside, wait for a decisive 1D candle close above the channel. Price might test the 8800-9000 zone (which coincides with the 200MA) and make a slight move down, probably re-testing the channel, before the bigger move to the upside.
But remember this is a volatile market and there's still a possibility of this being a bull trap, that's why you should wait for a good confirmation before entering any position. Use your stop-losses.
This is not financial advice.
-Price has touched the upside of the channel twice and it's bottom 3 times;
-It rejected twice the support zone of 6400-6700;
For this to be confirmed as a real breakout and make a big move to the upside, wait for a decisive 1D candle close above the channel. Price might test the 8800-9000 zone (which coincides with the 200MA) and make a slight move down, probably re-testing the channel, before the bigger move to the upside.
But remember this is a volatile market and there's still a possibility of this being a bull trap, that's why you should wait for a good confirmation before entering any position. Use your stop-losses.
This is not financial advice.
Nota
There also might be a bullish divergence, looking at the RSI
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.