Hey everyone! BTC Warning ⚠️
Good Evening Tradera, For the past few days, there have been lots of updates from my side BTC will pump 58k, 60k if you read my post the pump is not surprised for us, so traders I trust you've been profitable by staying updated on our previous analyses. you'll know the market conditions and movements. so don't forget to follow.
As I said last BTC update, BTC pump as we expected the pump accurately happened This is what I expected if you look at my previous post you will understand.
Now we got some bullish confirmation in 1 D chart I will explan one by one below 👇.
1. Bullish Divergence:
- The price was making lower lows, but our momentum indicator (MACD) was making higher lows. This usually means the downtrend might be ending soon.
2. 200 EMA Reclaimed:
- Bitcoin has climbed back above the 200-day Exponential Moving Average (EMA). This is a strong signal that the bears might be losing control.
Reclaimed means 1D candle closing above EMA BLUE line.
3. Falling Wedge Breakout:
- We've just seen a breakout from a falling wedge pattern, which is typically a bullish signal. This breakout suggests that the price could be heading higher.
I will breakdown what I mean by technical analysis words.
- The chart shows Bitcoin breaking out of a falling wedge pattern and reclaiming the 200 EMA. These are both positive signs.
- The MACD indicator below the price chart shows a bullish crossover, meaning the buying pressure is increasing.
- Overall, with these signals, Bitcoin might be gearing up for a new upward trend.
My Take:
Bitcoin is currently trading around $60000 while writing this update.
According to the 4-hourly chart.
4h Chart
📍- Resistance: $60400
🟢- Support: $58000
According to the 1-hourly chart.
1h Chart
📍- Resistance: $60700
🟢- Support: $58650
In my view, a small dump to 58600 or lower in the next few hours, then if hold this at 58300 then $60800, $61000, $61800 is possible. Share your thoughts.
what technical analysis you need ? comment below 👇
- Always do your own research.
