Bitcoin (BTC/USD): Morning Analysis, Road To $5,000…
Daily
Looking at our trend timeframe we see price formed a lower high at $6,500 and is now looking for it’s lower low. Stochastic RSI showing momentum remains in favor of bears, with no signs of reversal. Expecting a bounce off $5,500 pushing up towards $6,000, only to be rejected and continuing towards $5,000.
4Hour
Shifting over to our pattern timeframe we see price has found resistance at $6,200, stochastic rsi showing momentum continuing towards the downside. A 4hour close above $6,200 and we should see an extension towards $6,600, however if rejected at $6,200 expect our sell off to continue towards $5,500.
Conclusion
- Buy: After Daily Close Above $6,200 / Bounce Off $5,000
- Sell: Por Que
Comment Down below what coin you want me to do next! ;)
Thank You for Your Support, Upvote and Follow!!! New Blog and Video everyday
Social Media:
Twitter
Instagram
InvestFeed
Tradingview
Crypto Trading W/ Leverage
How to Draw Trend-lines & Identify Trends
How to Draw Support/Resistance, Price Only
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.
Congratulations @kidmartin-95! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo you see BTC going down to 5K? I mean: there is a lot of pressure from the bears (some friends want to buy low), but if it fails to stop at 5k it could be a disaster. A little whale from a telegram group (around some fish) told me "If it goes below 5k I'm out from cypto for a while" (of course, they bought below 4k some time ago). Where do you see the next support afte 5k?