We are looking 4 hour chart. If you take look in short-term it might look the correction is done but when you take a look to the long-term charts you can see we are bottom in the long-term descending channel which means that on a short-term we are likely going to experience pull back somewhere between 11 000$ or 12 000$
Down-tredn will now slow for a while because we can't go below 30 in RSI on the daily chart. 200 SMA is also likely going to make resistance zone to Bitcoin.
I will post some short-term analyses below.
I hope you like this and before you do anything I want to say I am not a professional trader, I might be wrong and this isn't financial advice.
Comments and feedback are greatly appreciated, I will read and answer every comment because they are important to me :)
Down-tredn will now slow for a while because we can't go below 30 in RSI on the daily chart. 200 SMA is also likely going to make resistance zone to Bitcoin.
I will post some short-term analyses below.
I hope you like this and before you do anything I want to say I am not a professional trader, I might be wrong and this isn't financial advice.
Comments and feedback are greatly appreciated, I will read and answer every comment because they are important to me :)
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In 15 minute chart, there are two resistance levels. We are likely going to break the lower one soon, which is marked with the blue arrow.
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25 and 50 SMA are now on our side, 15 and 30 min RSIs are making some resistance.
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BTC might drop to 7200$
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Another possibility
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50 SMA just created support level
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On a short-term 200 SMA just went to green for a first time in 4 days
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Correction.actually it has been on green few times but no more than 30 minutes so we should wait for a confirmation at least one hour.
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