BTCUSD - Technical Analysis September 29, 2017 - Current Price $4198
BTCUSD
Looking at BTCUSD - in our previosu analysis we determined BTC was bullish above 3976. Since reclaiming this level, BTCUSD has managed to test the 4200's several times.
daily
In a previous analaysis about Ethereum I made note that a backtest of the daily pivot was highly likely, and so we have overnight retested this level and the buyers came enforce, pushing the price back up for another test of the 4200 range.
Looking at the stochastic RSI and MACD I am still cautious having not seen the Stochastic fully cycle. The RSI is in a neutral range.
4 hour
On the 4 hour time frame, BTC has managed to push back above the ichimoku cloud and with volume several bullish moving average crosses are imminent. This is conducive to price progression.
The stochastic RSI is in uptrend still and appears fine given the amount of time Crypto can spend in overbought ranges.
Caution is warranted as the RSI had hit overbought and caused a slight pullback, as well the MACD is a bit above deviation Zero.
1 hour
The stochastic RSI and current price action appear bullish and an uptrend cycle can drive another bullish MACD cross. The RSI is a bit high but had fallen out of overbought. There is a possible V bottom forming here as well.
Bullish Above: $4275
Bearish Below: $4090
RISK TRADE: Accumulate long position, sell if price falls below $4019
Previous Articles:
XMRUSD
LTCUSD
U.S. Dollar Index
ETHUSD
Bitcoin
Follow at your own risk, Not a financial adviser, understand the risks associated with trading and investing. Manage your own Risk - in other words you could lose it all and I could give a fuck.
Great technical analysis as always. I was looking for support at 4200 and it initially looked like it was going to find it, but has since trailed off. If it does find support and tests the 4250-4275 level, I think it's very bullish and will find support.
Hello I think we are going to enter a period of consolidation
Quite possible, and would be better for the bitcoin, however, some news out of japan, the buyers scooped it up huge, red to green, so Im intrigued to see if we get some explosive price action
it is right
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STOPHi i belive BTC gone go up this week .It has to go up before it gose down and i belive now we pass the China FUD and now other asian contry is top buying BTC Japan . So my bet is to go up this week.
Fair enough, I am cautiously bullish, we shall see. Chinese news was what is known as a black swan event. Can happen again - the regulator story is not over.
BTC to $9,000; here is how and why:
