In my last bitcoin update, I told you price was consolidating before making it’s next move. We discussed if price broke down, it'd likely find support between $7,400 and $7,350. Since then, price did break down into that support zone, briefly touching as low as $7,300 before the bulls pushed it back above $7,350. It now seems to be operating within a possible falling wedge.
I’m seeing mixed signals all throughout the market. For example, looking at the 4 hour chart, we see very clear bullish divergence on the MACD, Stock RSI and slightly on the RSI.
However, zooming into the 1 hour chart, we find hidden bearish divergence on the MACD, Stock RSI and RSI.
In today’s video analysis, I discuss what all this could mean in the short term and longterm. I also discuss possible trade setups, traps to avoid and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.
Video Analysis:
If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or https://mentormarket.io/profile/@workin2005?aff_id=Workin2005 in order to watch.
BIAS:
Short Term: Neutral
Longterm: Very Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
If you found this post informative, please:
If you don’t have an account on Binance, I STRONGLY recommend getting one. They’re usually the first to get reputable coins, have excellent security and second to none customer service. Sign up here free of charge: https://www.binance.com/?ref=16878853
Brave is one of the safest, ad free browsers ever created. It helps support the crypto ecosystem by awarding content providers with BAT tokens. Join the revolution and download the latest version here, free of charge: https://brave.com/wor485
Follow me on Twitter (handle is @Workin2005) and Facebook to receive the latest updates. https://www.facebook.com/Workin2005. Also, make sure to check out TIMM (Traders & Investors Mentor Market), a STEEM based platform for traders and investors of all levels. You can find the link to TIMM below.
Published on
by Workin2005
Tomorrow up again!
Steem on mate!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Could happen
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Sure!
https://steemit.com/bitcoin/@toofasteddie/bitcoin-be-positive-the-bull-count-is-still-valid-extra-pattern
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I think its got further to go yet, possibly down to 6800 region
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'd like to see it drop to at least $7,200. I don't think a bounce at current levels would be sustainable.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
good analysis and nice concept sir thanks for share your inportant concept..
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit