BITCOIN CAN TOUCH $8582 LEVEL OR it may be corrected upto $7011 or $6663.52 level ?? ?

Hey there lets start Technical Analysis of BTC - Bitcoin one of the Giant crypto currency in crypto worlds.!!!

Those who trade on BTCUSD they can find some extra boost from this analysis.

As we know most of this year Bitcoin traded in down trend. As a technical analyst we prefer trend is our friend. But most of the time without analyzing properly we jump into trade and made loss. Trading is an mathematical probability game, here we can take trade after making technical analysis so we can be safer side most of the time..

Lets start and jump into the technical analysis charting platform.....

As see most of the time bitcoin traded in down trend and lots of moving average were higher than trading price ...
But As on 16.07.2018 Bitcoin touched 50DMA moving average with high volume and very next day that is 17.07.2018 broke 50DMA with high volume indicating that it will ready to give a long bull run.

We can state here that on 16.07.2018 down trend ended when it breaks trend line with volume...

have a look.... below chart how nicely breaks the trend line....

After breaking trendline and 50DMA on next day 17th of july it made huge upmove and closed below 100DMA , on that day we witnessed a huge volume too..

lets have a looks on OHLC data on 17th july 2018

OPEN= 6728
HIGH= 7472.50
LOW = 6663.51
CLOSE = 7315.01

gained near about 587 points in a single day.
On that particular day a strong resistance level 6840 has been broken too..

You can see clearly on the above chart. Just imagine how explosive move happens when breaks this level.

SHOOTING STAR FORMATION - BE CAUTIOUS

AFTER GIVING A NICE STRONG MOVE 18th July 2018 we have found a SHOOTING START CANDLE which indicates that it is ready to made some correction...

We have some data basing on that we can conclude that BITCOIN CAN MAKE CORRECTION UPTO - 7010 LEVEl OR 6663.52 LEVEL

Here is the reason.....

1. on 18th july it made shooting star candle
2. Unable to break 100DMA
3. price trend respect and stuck at huge 100DMA resitance
4. still now bitcoin unable to break 100DMA which ~ 7611.0459

IF we look into OHLC data on dated 18.07.2018 we can have bellow data

OPEN= 7315
HIGH = 7584.85
LOW= 7229.89
CLOSE =7378.99

clearly seen that Bitcoin unable to toch 100DMA which is 7611.0459

from these data we can conclude that bitcoin may corrects as bellow level...

lets have a look..

Before touching $8587 level it might be corrected, if bictoins respect 100DMA

AND unable to breaks this vital moving average.

if Bitcoin 7378 level and trade below 7240 level then it will definitely it might test ** 7010.90 level which is
a GOLDEN FIBONACY LEVEL 61.8%**

if still not bounce back and breaks this level then
it will may touch 38.6% level which is 6663.53 level

all level has been calculated form GOLDEN FIBONACCI RESTRACEMENT METHODS

LETS HAVE A LOOK

If correction happens and respect 61.8% level then and bounce back from 61.8% level or 38.6% level then it may touch
8587 level....

Am I right friends??? will bitcoin touch 8587 level??? it is big question don't forget to place your answer or feedback in comments section... right!!!

As we are having some big news bitcoin ETF getting permitted and lots of money are ready to put into this crypto giant we hope in near future it will grow upto 10 times i.e 75000USD/BTC..

what do you think people will it touch 75000USD/btc ??? please don't forget to provide your feedback..

what will happens it will say only time and market sentiments....

till then We have to wait...

if you find these Analysis is help full then you can comments bellow....

your friends @amusdnom