Bitcoin - Near Term Price Action Forecast

BITTREX:BTCUSDT   Bitcoin / Tether
At the moment BTC has risen above the 200 period moving average, and sustained a move above the R1 resistance price pivot point These are positive signs.

Volume is just OK.
RSI - Approaching overbought short term
Soch RSI - Indicates we may have room to run upwards longer term.
MACD - Warns of potentially over bought medium term

The present challenge is to close a 4 hour candle over the Fibonacci line at 8203. If this fails in the short term look for a retrace to 7829. A retrace to 7829 would be healthy in the short run for this upward move to stay intact.

Provided the above comes to pass the next upward target is 8892 - 9017

Upward Resistance / Support Levels
9580 - 9766
8892 - 9017

Downward support / Resistance levels

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All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor.

Wishing you success,
評論: A move is on, watch the 7829 resistance I set on the chart as a possible turnaround in price. If that fails to hold refer to the list above for other resistance points.
評論: Excuse me I meant to say support where I used the word resistance in my previous comment.
評論: We touched the 7829 level (actual 7925 1600 UTC) I spoke of above a few hours ago, now we wait to see it the price rises or not. I have a small trade in and am watching. A break and close below 7829 would close the trade.
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