BTC analysis for December 4:
$BTC
• BTC yesterday continued to form a bottom at the 934x region, which aligns with my previous analysis that the bottom of this week's candle would reasonably be in the 93x range or lower.
For this reason, I continued to wait and see if BTC would create a lower bottom, so I placed a small short order and got stopped out 😝. But as of today, the result is clear; BTC is clearly forming a path in the upcoming trend. Let's refer to my analysis:
- 1D frame: BTC in the D1 frame is still in a downtrend, however, the price is continuously supported by the average line of the BB band and continues to rise. Along with smaller frame indicators like 4H, 6H, 8H, and 12H being quite low, I believe that the main trend of BTC in the coming days will be to continue to increase in price and soon exceed the 100k peak by a wide margin.
- D4 frame: is forming a cluster of bullish candles; as long as BTC can maintain the price above 958x, the next D4 candle will definitely continue to be a green candle.
- W1 frame: the candle is red, RSI is at 74.8 and as I have noted before, this week's candle will either have a long green wick or a red candle with a long wick so that the RSI is not significantly affected compared to last week (75.8).
=> My analysis:
- BTC will continue to increase in price and stick closely to the average line of the BB band (currently at 948x and continuing to rise day by day); in 2-3 more days, there will be a significant breakthrough (which I believe will be an increase).
- You may also want to pay attention to $DOGE as it is following BTC and could potentially double from this price.
