Bitcoin's Price Action In Depth Analysis (March, 9)
Bitcoin Daily
It looks like Bitcoin is heading again toward the 4200$ resistance barrier. Yesterday we had a minor flash - crash, but bounced immediately at the 0.5 Fibonacci retracement, which became our support. At the moment we are hovering exactly between the 0.618 and 0.786 retracement levels. The Ichimoku resistance cloud continues to shrink and also a bullish MACD cross is about to happen.
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![btc daily.png](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdbdtexRutR9oddvAq1dUYGwWiUcx4LcXcPxefmc3J62y/btc%20daily.png)
Moving Averages
The 55 day MA (blue) is approaching again the 100 day MA (red) and a bullish cross might happen. We're currently riding along the 21 (yellow), which turns out to be of great importance. The volume calculated by Coinmarketcap is also increasing rapidly. In fact, Bitcoin 24h volume is crossing 10 billion dollars for the first time since March 2018!
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![BTC MAs.png](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmS85HTphjYtWbFrafuMd6DR5BW9Gva7dUwMa78LRCtahe/BTC%20MAs.png)
Adam and Eve Update
I know I keep posting on and on about this pattern, but it is still in play! As you see, ~4200$ is not that far away. Considering the huge increase in the trading volume, a breakout isn't so impossible anymore.
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![btc adam and eve.png](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmcgPc3weDSqsxyfDZ6pC2moQmidC9aQxmJTsCYCNEzuAG/btc%20adam%20and%20eve.png)
LONGS vs SHORTS
An alarming and worrying fact is that the BTC longs are free falling at the moment, whilst the Shorts continue to increase. Is it just the herd effect or do the whales know something in advance?
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![BTC LONG SHORTS.png](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmXmiua6bGCUQip2CkFvA9sshDDzKoofvJz2gHhsHoDfiU/BTC%20LONG%20SHORTS.png)
2014 Comparison Update
Bitcoin is still respecting the comparison with the 2014 movement. We're still holding the 200 week MA (grey) support. A bearish 55 MA below 100 MA is about to happen, which according to 2014, will last around 400 days.
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![btc 2014 comp.png](https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmdJZpzektZmRrzcKdjAJrQJoaequDsPPHzcWm5Bbh6aLh/btc%202014%20comp.png)
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![mywolf.gif](https://steemitimages.com/0x0/https://cdn.steemitimages.com/DQmYdJxHtrns6waecoP7wLGCy9ToPPiygHWGq2jUmoBfnGk/mywolf.gif)
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Exchanges:
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- Kucoin - excellent exchange, rising in popularity
- Gate - for small cap / new coins
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- Magic Dice - Feeling lucky? Gamble your money
- Freebitco.in - earn free Bitcoin & high prices - if you're lucky
- 0xe1347a6F7f44fdd6Ae8B2fA80E1c8e1e4a13C7a5 - If you wish to donate ETH / or ERC-20 tokens
- 19feKUFZ4XgYbFLQf4MA3B8RnmF5s98m53 - If you wish to donate BTC
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Thanks for reading and safe trading!✌
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