Bitcoin went up faster than I would have preferred, 45% in just 12 days. A correction of some kind was due. Bitcoin touched the resistance trend line AND it was overbought on the RSI.
At the moment of posting this chart, bitcoin is still around the area where support, the trend line and the 200EMA converge. This area of support is between $8600-8800. Next few candles on the 6hr chart will paint a clearer picture for bitcoin's short term future.
Thumbs up if you agree!
Please leave a comment with your thoughts.
At the moment of posting this chart, bitcoin is still around the area where support, the trend line and the 200EMA converge. This area of support is between $8600-8800. Next few candles on the 6hr chart will paint a clearer picture for bitcoin's short term future.
Thumbs up if you agree!
Please leave a comment with your thoughts.
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Update: pin bar on 4hr chart
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6hr closed on pin bar candlestick as well
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Looks a bit bearish, but still above support
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Indecision
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30 min chart rounding up - looks bullish in this timeframe
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1st resistance crossed
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Declining selling effort for now.
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Inverse H&S AND bitcoin is battling resistance around $9170
