BITCOIN could reach 7500 $, I tell you WHY! - Maxime Desalle
DISCLAIMER: It is understood that all the suggested input of Maxime Desalle regarding this chart analysis are only recommendations / support from a business perspective and do not constitute in any way legal terms. To that extent you retain sole responsibility should you make use of such recommendations.
Good afternoon dear traders,
I hope you made some profit today. I warn you, today I will tell you a lot of things. ;-)
Current support is located at 6900 $. The resistance is a psychological resistance: 7000 $. I drew in blue a possible ascendent triangle. We will have to see if this is true because there are other possibilities: 2. Bitcoin is in a range and is stabilizing. 3. Bitcoin is in a W-pattern (look at the MACD volume, I drew a little W. You can also look at the price, you will see a W-pattern in the range). This means that we could see a rise of BTC. The MACD isn't looking very good because it has broken the upward trend (Indicated in green). This means that we could see the MACD fall to the two "supports" that I drew on the MACD. The RSI is still high, that's not very good. I also drew in white a possible pattern that BTC could follow. In that case Bitcoin will reach on a very short term perspective the 7200 $ and on a short term perspective the 7500 $.
To conclude, there are elements that contradict each other: There are very positive things like the ascendent triangle, the W-pattern, ... But there are also negative things like the MACD that has broken the upward trend, the RSI that's still high, ... Like the past few days, I will not tell you my prediction because there are elements that contradict each other and it's very difficult to understand what will happen.
Thank you for your support,
Maxime Desalle
Good afternoon dear traders,
I hope you made some profit today. I warn you, today I will tell you a lot of things. ;-)
Current support is located at 6900 $. The resistance is a psychological resistance: 7000 $. I drew in blue a possible ascendent triangle. We will have to see if this is true because there are other possibilities: 2. Bitcoin is in a range and is stabilizing. 3. Bitcoin is in a W-pattern (look at the MACD volume, I drew a little W. You can also look at the price, you will see a W-pattern in the range). This means that we could see a rise of BTC. The MACD isn't looking very good because it has broken the upward trend (Indicated in green). This means that we could see the MACD fall to the two "supports" that I drew on the MACD. The RSI is still high, that's not very good. I also drew in white a possible pattern that BTC could follow. In that case Bitcoin will reach on a very short term perspective the 7200 $ and on a short term perspective the 7500 $.
To conclude, there are elements that contradict each other: There are very positive things like the ascendent triangle, the W-pattern, ... But there are also negative things like the MACD that has broken the upward trend, the RSI that's still high, ... Like the past few days, I will not tell you my prediction because there are elements that contradict each other and it's very difficult to understand what will happen.
Thank you for your support,
Maxime Desalle
