Bitcoin had a huge drop which put us below MA200 (black line) on the 4h chart. Finding support around $3687.2 which is the same level as back in December 27 (Bitcoin found support at $3686), making this a double bottom. On top of this signal, we also have an oversold RSI with hidden bullish divergence and several reversal candlesticks, but still to early to say as volume is lacking. If Bitcoin can test and remain above $3665, then a bounce up is very likely. For a bounce to be confirmed, we need a high green volume breakout... Wait for signal... This is no trade advice. If you would like to trade please visit my profile. All of my trades contain buy in, targets, stop loss & capital allocation and more. Remember to always hit LIKE to support more free analysis. Thanks a lot for reading. Wishing you an amazing weekend. Namaste.
Seems like that $100k per coin in the long-term is not a dream. The log chart is indicating that we well see soon the resumption of the upside trend in the series of 4th and 5th waves to completed the structure. Note, this is weekly chart. !Log scale For those who wants some evidence - take a look at the next post with Apple with a potential clear example
On the weekly chart you can see a certain picture: - 200 MA Took all the hit and became a big support in this downtrend - The shape of the descending triangle almost perfectly played itself, not having worked just a couple of percent, since 200MA stopped the fall almost at the very end of the figure! - Weekly volumes are falling, which also gives a sign that the bear market is weakening and there are fewer sellers The best solution for this scenario is to re-test the support of 200MA as this will put an end to the Bear trend and will give the opportunity for the start of the bull ralis and new heights! Now the important point is the support of 0.236 for fibonacci, punch it means we are going to repeat the test For all traders who want to build their teams, have the support of top traders, create their own fund, our team gives the opportunity to go through cycles with the help of which 13 people will be selected for the team with which our specialists will work at each stage and help to achieve new heights. detailed Information on our platform: 13cartel.com
Let's see how this unfold, if I get enough support I will continue with low TF analysis for daytrades / short-term trades. So if you want me to continue with this show some support with likes, sharing, comments so I keep going. The analysis is a mix of circle fib, extended fib, extended time fib, putting 3 fibs together is really challenging so I hope be up to this challenge and hope you guys keep me going on.