Daily Bitcoin review: Three green candles in a row after 3months
***Welcome to daily Bitcoin analysis. I do daily BTC review and try to provide my unbiased TA. Please let me know if you have any other chart requests***
Ok, so, Bitcoin has got three daily green closes, which is a really good sign, as mentioned in my yesterday's post, big buyers show up when markets are fearful, and that's what we can see in the price action.
I usually wait for the first impulse to retrace back on FIB level 0.618/0.5/0.318, these usually are good buy areas, I have personally got in yesterday at around $33.8 based on 4h retracement, we still haven't got red daily candle yet, so I assume we may still retrace back to $32K on daily charts. Keep an eye on that.
Bitcoin is still not in the bull market, it's quite the opposite, it is still below the very important 200DMA level, and it will face quite a resistance when we get there.
I still suggest wait for a retracement and then go long, Stop loss is still at $28.5.....Happy Trading!!
Cheers
Ok, so, Bitcoin has got three daily green closes, which is a really good sign, as mentioned in my yesterday's post, big buyers show up when markets are fearful, and that's what we can see in the price action.
I usually wait for the first impulse to retrace back on FIB level 0.618/0.5/0.318, these usually are good buy areas, I have personally got in yesterday at around $33.8 based on 4h retracement, we still haven't got red daily candle yet, so I assume we may still retrace back to $32K on daily charts. Keep an eye on that.
Bitcoin is still not in the bull market, it's quite the opposite, it is still below the very important 200DMA level, and it will face quite a resistance when we get there.
I still suggest wait for a retracement and then go long, Stop loss is still at $28.5.....Happy Trading!!
Cheers
