What's up traders,
Here we are analyzing BTC/USD on the 4H chart.
I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed now, hence I am eager to update this idea.
At current, price is trading at 8520, supporting on the 20 moving average, and the 20 moving average is above the 50, suggesting a legitimate bullish presence.
Price will now likely test the moving averages and use them as a new support level. Coupled with the fact we have a minor structure support, we could see price go to the upside target at 12130.
I am expecting Bitcoin to recover lost ground now as the trend is having a legitimate turn.
Bare in mind, thatI am predicting a longer term bull presence.
I will update this analysis when I receive above 40 likes.
Here we are analyzing BTC/USD on the 4H chart.
I posted a BTC/USD analysis a week ago, and the dynamics of the trade have changed now, hence I am eager to update this idea.
At current, price is trading at 8520, supporting on the 20 moving average, and the 20 moving average is above the 50, suggesting a legitimate bullish presence.
Price will now likely test the moving averages and use them as a new support level. Coupled with the fact we have a minor structure support, we could see price go to the upside target at 12130.
I am expecting Bitcoin to recover lost ground now as the trend is having a legitimate turn.
Bare in mind, thatI am predicting a longer term bull presence.
I will update this analysis when I receive above 40 likes.
