BITCOIN Target Hit! What Now?
Good Morning Traders, Investors & Gamblers 😃
We have now foud the top of the ascending channel which I first posted at the end of June, at the top of the channel we found very strong resistance coming from the range highs and other indicators which I wrote about below. For confirmation for further upside we want to see Bitcoin confirm with a 4h candle close above 22.600$.
06.30.22
Here Below on the Daily BTCUSD chart you can see how the orange box represents the neckline that keeps us in the current trend. We need a daily close above to start a trend reversal on larger TFs. Our Targets would be the green lines (25.4k, 28.6k, 31.8k)
Here below on the weekly BTCUSD chart we see our main resistance point, the 200 WEEK SMA
Getting back above this important moving average and regaining it as support would be extremely bullish as historical data shows:
And last but not least here on the montly BTCUSD chart we see another key moving average that we are currently sitting above, the 50 Month SMA, and of course it would be a historical bottom signal for BTC if we close the month back above the moving average.
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
We have now foud the top of the ascending channel which I first posted at the end of June, at the top of the channel we found very strong resistance coming from the range highs and other indicators which I wrote about below. For confirmation for further upside we want to see Bitcoin confirm with a 4h candle close above 22.600$.
06.30.22
Here Below on the Daily BTCUSD chart you can see how the orange box represents the neckline that keeps us in the current trend. We need a daily close above to start a trend reversal on larger TFs. Our Targets would be the green lines (25.4k, 28.6k, 31.8k)
Here below on the weekly BTCUSD chart we see our main resistance point, the 200 WEEK SMA
Getting back above this important moving average and regaining it as support would be extremely bullish as historical data shows:
And last but not least here on the montly BTCUSD chart we see another key moving average that we are currently sitting above, the 50 Month SMA, and of course it would be a historical bottom signal for BTC if we close the month back above the moving average.
I would like to add that this is only for educational purpose and in no way a guarantee that it will play out this way, nor is this or are any of my posts financial advise.
As always, A BIG THANK YOU for stopping by, I hope you liked my post! If you did, please take a second to drop a like or comment, every engagement puts a smile on my face, but also helps me to get my ideas out to many more of you guys! 😃🙏
Happy Trading ✌♥📈
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