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Let's analyze BTC/USD on the 4H chart.
This analysis is a follow up analysis of my previous Bitcoin -2.79% analysis (See related ideas below for details of my original analysis for more information), and I strongly recommend reading the previous analysis so you can better understand this one.
We have not retested the side-wards line and broken down perfectly as predicted.
Now, we appear to be under heavy moving average resistance as well. With this in mind I am now expecting a downside move to at least 7600 before anymore upside. With the moving averages being major moving averages, it would take significant bullish participation for the resistance to be broken now, and it's just something I can't see happening. Downside it is.
I will update this analysis when I receive above 40 likes.
Let's analyze BTC/USD on the 4H chart.
This analysis is a follow up analysis of my previous Bitcoin -2.79% analysis (See related ideas below for details of my original analysis for more information), and I strongly recommend reading the previous analysis so you can better understand this one.
We have not retested the side-wards line and broken down perfectly as predicted.
Now, we appear to be under heavy moving average resistance as well. With this in mind I am now expecting a downside move to at least 7600 before anymore upside. With the moving averages being major moving averages, it would take significant bullish participation for the resistance to be broken now, and it's just something I can't see happening. Downside it is.
I will update this analysis when I receive above 40 likes.
Price bounced off the side-wards support turned resistance and is now breaking down. I am expecting my original support zone target at 7570 to become a support before anymore upside.
Well done to my premium signals group especially, as we went short on Bitcoin at 8400 and are now in significant profits.
I am glad to be your one stop shop for reliable cryptocurrency analysis!