Update On Bitcoin: Looking At Possible Continuations From Here On

Bitcoin Daily

• BTC is currently seeing a double top pattern, with a decreasing MACD - Histogram, which indicates that the bulls lost some power
• the RSI is again below the higher reference line and could correct much lower if we're attempting to revisit the 21 day EMA (yellow)
• notice how we previously had a brief interaction with the 21 EMA
• the bullish situation: the double top might form a ascending triangle pattern, which usually ends up bullish (like the drawing)

_{Ctrl + Click here to enlarge the image in a new tab (steemitimages)}

BTC/USD - Weekly

• the current top aligns perfectly with a previous top from August 2018
• the bearish situation: I could see Bitcoin retracing at somewhere around the green area (previous resistance), at the 0.382 Fibonacci retracement of the whole 2019 movement
• this would also align with the 55 EMA (blue), which acted as support in the past
• RSI is still high in the overbought area, but the MACD - Histogram is still increasing, showing that the bulls still have strength

_{Ctrl + Click here to enlarge the image in a new tab (steemitimages)}

Moving Averages

• on the daily we're carried by the 8 day EMA (brown) and 13 day EMA (green), but will visit the 21 (yellow) again soon, in my opinion
• on the 3 day-chart we finding again support at the 200 MA (grey)

_{Ctrl + Click here to enlarge the image in a new tab (steemitimages)}

Thanks for reading!

• My most used Exchanges:

  • Bitfinex - My most used exchange & Margin Trading
  • Binance - Most popular exchange & Top Altcoins
  • Kucoin - Excellent exchange, rising in popularity
  • Gate - For small cap / New coins
  • Huobi - Margin trading
  • Coinexchange - Big variety of low-cap coins
  • Tokok - Here you can find NEX!

---

• DRUGWARS - Play smart and earn STEEM!

---

Find me on Twitter for updates

---

STAY SAFE - TIP: ALWAYS CREATE A DIFFERENT PASSWORD FOR EACH EXCHANGE!
NEVER USE THE SAME PASSWORD TWICE!
SAVE THE PAGES TO YOUR BOOKMARKS, SO THAT YOU WON'T CLICK ON SCAM SITES!

Thanks for reading and safe trading!✌

If you find this post useful, please: