Bitcoin crossed $ 6,500 on Saturday, but there was a lack of forward movement toward psychological resistance.
That day the BTC / USD Kick start remained high on the 6475-Fiat side. At the Asian Trade Conference, organized action on the narrow border indicated by the 6520-Fiat and 6477-Fiat decline. The Breakout Mode appeared in the early European session when the BTC / USD 6550-Fiat high altitude.As the day passed, the couple increased to 6572-Fiat. After installing In troy High, BTC / USD 6500 supports support.
Bitcoin value is controlled by descending the trade line structure in the middle period, so a durable high-precision bias can not be guaranteed. True, the circumstances are good for a short time, most of the technical indicators are favorable for strong buying enthusiasm. But the bounce has recently been expanded by a breakaway climb (blue color), which gives extra slow pressure of the middle period.
In the 4H period, we have an average BTC / USD average between 50H and 200H, but prices are at the press if 100 HMM is high. Over 200 HMA breaks the enthusiasm of the enthusiasm and promotes more promises to the 6700-Fiat. However, a pullback is approaching because RSI and possible indicators try to improve their internal areas.
There is also a purple mount trend to support the near-term uprund. If it breaks down on the negative side, then the emotion is propelled to the bear in the near term, which means that 6400-fall support is very possible.
For our introduction analysis, we are initially waiting to test the BTC / USD potential bounce back / breakdown mount trend. If the pair tap again, we make 6590-Fiat long access to our In troy Hal. In this situation, we will put down 3-pips to protect our businesses from additional businesses during the bear review process.
In another case, the rising trend is the following BTC / Dollar damages so we wait for the 6500-Fiat first test that supports psychological. The price falls back to 6500-Fiat, which makes us a long position but keep the 6550-Fiat. If the 6500-Fiat breaks below the price, we end up with support levels running at 6400-Fiat which enthusiasts are trending in the near future. With all the smaller positions, we will be our stop 3 pips over accessibility losses.