WEEKEND BITCOIN TECHNICAL ANALYSIS
Inside Catholic
GOOD EVENING STEEMIT,
Having missed yesterday’s Steemit blog due to Australia Day, I wanted to write a markets oriented post to supplement this morning’s slightly politically charged offering.
So of course, Bitcoin is still capped by resistance at the resistance zone we’ve talked about inside the linked blog post from the other morning just there.
BTC/USD Daily
As you can see, price continues to reject from the zone and doesn’t even look like making a dent into it on any of the lower time frames. All this points to unfortunately, is further short term losses for Bitcoin...
The positive however, is that I continue to say Bitcoin is only short term bearish. So long as price holds above trend line support that looks like coming in around 10k here (with scope to run to that 7k horizontal resistance level that hasn’t yet been retested as support), then the longer term bullish trend stays in tact and further gains are firmly on the radar.
Stay relaxed. Hold strong.
Peace ✌🏻.
Instagram: @forexbrokr
Website: www.forexbrokr.com
I like your point of view! Do you think Bitcoin will consolidate in this area?
What do you think about the end of CME futures? Do you think Bitcoin will run with the bull again? Great post! Upvoted! :)
Hey tempus, thanks for stopping by :)
I think we’re seeing some consolidation now as buyers try to push through the blue resistance zone but as we’re in a short term bearish trend, they are just getting soaked up. It’s a good sign that price hasn’t dropped hard out of it, but a breakout is coming one way or the other.
My friend @buzzbeergeek, wrote a great blog on his thoughts around Bitcoin futures. It’s worth checking out and I share a lot of these sentiments.
Of course. The crypto market is maturing and having periods of consolidation or short term bearish trends, doesn’t take away from an overall bullish market, which we’re in. Wait for Lightning Network to be properly implemented into Bitcoin and we’ll see some momentum alongside the positive media attention it will garner.
Hello Everyone, we did a BTC TA few days back, please check out our community page for more TA's https://steemit.com/bitcoin/@cryptospective/btc-price-prediction-feb-23-201
Interesting analysis though I'm not normally into subjective TA but always curious what people think. Short term I'm bullish on BTC (and long term but it will have its ups and downs) as seen from my data below. Check this out if it interests you: https://steemit.com/steem/@weilii/introducing-the-neux-oracle-steem-and-bitcoin-trade-signals Just started following you, would appreciate a follow back if my price analysis content interests you as well :)
No worries mate, will do.
thanks for sharing!!👍
No wukkas, mongi. 👍🏻
I am also awaiting for the next super uptrend of Bitcoin price, because in my opinion that will help other Altcoins to move towards uptrends. Thanks for sharing.
Have a great day and stay blessed.
What do you think about the fact that Bitcoin seems to lead everything else up and down? Do you see a decoupling of this correlation in the future?
Remember that period last year where Bitcoin rallied hardddd and the alts did nothing.
In my opinion people tend to convert their Crypto's mostly into Botcoin, so that's why I am saying but this is my opinion and i would totally wrong. Thanks for sharing.
Have a great day and stay blessed.
Peace is the good word to finish up texts both on Hip Hop culture as well as trading. Hold strong.
😂 You know it!
@forexbrokr - I admire your technical analysis for Bitcoin. I am trusting your tip to hold on our Bitcoin investment.
Thanks for the updates! It helps build my confidence!
May I know what is your prediction on Bitcoin for this coming months? Or when will Bitcoin boost back again to a high value?
Thank you! Have a great day ahead!
Hey jjeeppeerrxx, thanks for checking out the blog. I hope you’re getting value from my analysis and that it helps you make your own investment decisions.
While I’m bullish in the medium to long term in Bitcoin, I don’t want to give predictions because that’s not what trading is about. You need to form your own opinions and most importantly manage your own risk. Don’t just blindly follow me 😱.
I like the blue bar on the chart. Nice visual.
Thanks fow, I really like to keep my charts simple and clear. Hope you took something from it :)
Steemit is looking for people like you, because of the information you are always bringing news that the masses needs
Thank you 🙏.
Steemit is looking for people like you, because of the information you are always bringing news that the masses needs.