Bitcoin (BTC/USD): Evening Analysis, Don't Panic...
Daily
Looking at our highest timeframe we see price testing $8,100 for support. Stochastic RSI showing momentum is bearish, no signs of slowing down. If price decides to break through expect price to fall towards $7,700.
4Hour
Shifting over to pattern timeframe we see price forming a triple top just below $8,400 and is looking to extend towards the downside. Ideal target of support is $7,500 according to the 4hour.
Hourly
Finally looking at our trigger timeframe we see price structure more clearly. Stochastic RSI showing momentum is short term bullish. Expecting resistance @ $8,300 if price remains bullish. Otherwise expecting price to falls towards $7,700
Conclusion
- Buy: Wait for daily support confirmation $7,700
- Sell: NO NO NO
Comment Down below what coin you want me to do next! ;)
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
Thank you. I appreciate the quality analyses and distinct point of view that you present here. I've noticed your short term calls are usually correct and if I had been acting on them I would have made a good bit of money so far. You deserve to have quite a few more followers.
Thank you for the kind words. I truly appreciate it, It is comments like this that keep me going.
Very good overview! Upvoted!
Thank you for your support :)
good post..very much in agreement..see mine just up, if you will,,thanks.