guillaumeldc

BTC at important level again (and dat HS though)

COINBASE:BTCUSD   比特幣 / 美元
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Quick update after my last analysis on Bitcoin             .
We broke the 5DMA and as expected we are right on the 10.1K support level . I raised the support level from 10K to 10150 at it seems more accurate.

We still have an increasing VWAP (from 2/6 6K level) but I expect this indicator to start heading down indicating a bearish momentum again.
I don't see a long term rebound and a return to the uptrend movement as we just had a very strong pullback.
Instead, we could see a short rebound to 10.5K (very unsure about the rebound as we could also go down again from the current level) which could offer us a good opportunity for a quick short below 10K. I wouldn't short right now after the huge pullback as it'll be a very risky trade. Instead I would wait for a rebound and a confirmation for the short at 9990. This way we could have a stop loss for the short at 10100 with a target of 9400.
Not to mention that we now have a nice H&S .

The VWAP will help us monitoring the price action. As shown on the graph, and taking into account that the VWAP will head down, we could land in the 8900-9200 price zone, were long trade should be studied. If HS confirmed, target would be 8800ish.
評論:

BTC did find support on the AVWAP level and we did not get our bounce to 10400.
The HS can't be confirmed looking at the new chart.