Bitcoin Technical Analysis: DON’T GET COMFORTABLE
Bitcoin bounced approximately $300 in under an hour earlier today. While this was a welcome sight for bulls, I wouldn’t get comfortable yet. I’m not seeing any signs indicating this is bottom. The zone between $6,540 and $6,280 has been a known consolidation zone over the last few months.
Looking at the daily chart, price is still well below the 8 day EMA, sitting just above the lower bollinger band.
In today’s video update, I discuss price movement over the next few days and weeks, traps to avoid, possible trading strategy and MUCH more information not found above. I hope you find it helpful.
Video Analysis:
If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.
BIAS:
Short Term: Neutral
Longterm: Very Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
If you found this post informative, please:
Open an Account on Binance here:
https://www.binance.com/?ref=16878853
Support the Crypto Ecosystem with Brave Browser:
https://brave.com/wor485
Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005
Published on:
by Workin2005
Is it bad that I'm hoping for a bigger dive?
No...it's not bad. I'm happy to buy a cheap bitcoin. ;-)
Great video, really compliments the text on the post.
Thank @Rollandthomas. Should be an interesting week.
Was going to buy some last night when it was around 6200 and forgot to do it. Woke up today and it was $200 higher. Looks like you said some sideways action for now until maybe an SEC decision this week or next.
I can see BTC trading within a $300 range today...but we'll see.
Nice work
Thanks @umeshvb
Según el analista jefe de mercado de ThinkMarkets, Naeem Aslam, los especuladores han intensificado innecesariamente la tendencia bajista del Bitcoin al venderlo en exceso en el mercado cambiario global. Enfatizó que la tendencia a la baja del Bitcoin no ha cambiado desde diciembre de 2017, cuando el mercado de criptomoneda alcanzó una valuación de $900 mil millones.
Sorry....I don't speak Spanish @ahaaiah
According to ThinkMarkets' chief market analyst, Naeem Aslam, speculators have unnecessarily intensified the downward trend of Bitcoin by selling it in excess in the global exchange market. He emphasized that the downward trend of Bitcoin had not changed since December 2017, when the cryptocurrency market reached a valuation of $ 900 million.
@workin2005, you are interested in reading, maybe you read me too