BTC/USD
I plan on keeping this as simple as possible along with a short market analysis.
Utilizing the 4 hour candles, we have multiple important indicators pointing downwards in the short term. Such as the RSI, MACD, OBV and DMI. And there is still enough room for it to fall considerably. The question is how much? Currently this market is still fairly indecisive to say the least. Additionally, we have yet to see any truly important resistances broken indicating this downtrend is over. Yet there are many indicators that also suggest the downtrend momentum is slowing down and creating a market pulse, which should be enough to attempt a full bullish reversal in the near future (1-3 months).
For those trading within altcoins of any type, keep this potential bear wave in the back of your head before buying/selling. Bitcoin still dictates the direction of the market.
Target Buy Zone: 5500 - 4000
This should be one of the final bear waves before we get a significant reversal signal. You can either choose to short with this information, if you agree, or wait for a great long term entry point for Bitcoin.
- Have several years of stock market analysis and trading experience, two years within cryptocurrency. Again, keeping it as simple as possible.
- This is my first public analysis on this site, I would love feedback or support to indicate if I should do this again.
I plan on keeping this as simple as possible along with a short market analysis.
Utilizing the 4 hour candles, we have multiple important indicators pointing downwards in the short term. Such as the RSI, MACD, OBV and DMI. And there is still enough room for it to fall considerably. The question is how much? Currently this market is still fairly indecisive to say the least. Additionally, we have yet to see any truly important resistances broken indicating this downtrend is over. Yet there are many indicators that also suggest the downtrend momentum is slowing down and creating a market pulse, which should be enough to attempt a full bullish reversal in the near future (1-3 months).
For those trading within altcoins of any type, keep this potential bear wave in the back of your head before buying/selling. Bitcoin still dictates the direction of the market.
Target Buy Zone: 5500 - 4000
This should be one of the final bear waves before we get a significant reversal signal. You can either choose to short with this information, if you agree, or wait for a great long term entry point for Bitcoin.
- Have several years of stock market analysis and trading experience, two years within cryptocurrency. Again, keeping it as simple as possible.
- This is my first public analysis on this site, I would love feedback or support to indicate if I should do this again.
Giao dịch đang hoạt động:
Below is an updated version of the chart once Bitcoin breaks above the 8700 resistance. Regardless, we are still definiely within a downtrend. More importantly our ideal 'Buy Zone' has grown now.