hey guys welcome for another Bitcoin update.
in my last mid term update, i had quite been bullish on Bitcoin with its recent price movement, but after digging even more deeper i get some more important points we need to consider before getting fully bullish on Bitcoin, here's my last daily chart update...
ok so now above we have a fib channel formation as you see which is bit different than simple channel connecting tops, the channel is not connected to the second top but the third one's and reason for doing this is that we're completing an X wave at the third top and the first top is the beginning of W wave, as mentioned in my previous idea.
by this we get more precise support and resistance levels, and here we've still not broke the formation, prices still needs to go much higher and close two continue bullish daily closes above this formation to confirm the next rally.
we need this weeks candle to be bullish and close above 9600, which gets clear in next coming hours
a larger view, you see how perfectly FIB5 has hold prices for 4 weeks and FIB618 is major resistance for two weeks, weekly candle must close above 9737 or FIB618
last bull run has also similar perspective, FIB382 hold prices for 4 weeks and FB236 is major resistance we need to break and hold, sitting at 9756.
so from above charts one thing gets clear, that if this is a real next Bull run of Bitcoin than we need to climb 9800 in coming hours and hold that level for confirmation, but if it gets failed, than surely this could end as a dead cat bounce.
thanks for reading guys, do support us, like our work and share with others so that we keep bringing great ideas for you:)
this is Husain Zabir Signing out...
Thankyou:)
in my last mid term update, i had quite been bullish on Bitcoin with its recent price movement, but after digging even more deeper i get some more important points we need to consider before getting fully bullish on Bitcoin, here's my last daily chart update...
ok so now above we have a fib channel formation as you see which is bit different than simple channel connecting tops, the channel is not connected to the second top but the third one's and reason for doing this is that we're completing an X wave at the third top and the first top is the beginning of W wave, as mentioned in my previous idea.
by this we get more precise support and resistance levels, and here we've still not broke the formation, prices still needs to go much higher and close two continue bullish daily closes above this formation to confirm the next rally.
so from above charts one thing gets clear, that if this is a real next Bull run of Bitcoin than we need to climb 9800 in coming hours and hold that level for confirmation, but if it gets failed, than surely this could end as a dead cat bounce.
thanks for reading guys, do support us, like our work and share with others so that we keep bringing great ideas for you:)
this is Husain Zabir Signing out...
Thankyou:)
Trade active:
here's my short update on Bitcoin have a look
Trade active:
keep an eye on this support channel and 200 daily sma (green line), as prices have already tested multiple times this support channel, and with weak volume and daily close in some hours, bulls look weak to push the prices higher above 9600 chances for going towards lower levels are now getting more higher, be cautious with your long positions.
Trade active:
finally the weekly close, a big red candle below 9600, lets see what happens...
Trade active:
Check out my latest update on Bitcoin guys, Bitcoin look to keep moving sideways in coming days...
Trade active:
above you see in chart the blue zone between 9450-9650 is the weekly level of resistance we need to break and form a higher high above the green zone which is monthly level of resistance, to confirm the trend reversal, but if prices drops from here than surely the lower blue area between 8600-8200 will be major support level, however as volume is drying up its getting more likely that we could test the lower support level
Comment:
Am looking for those clowns who were astrologically bullish above 9k levels, did anyone see them? They're still buying btc above 9k, you can sell them and make quick profits, lol...
Trade active:
here's my 1st Nov update, looks like wave C is about to end from fib5 to fib618, now obviously this is just a probability which ive predicted...
Comment:
so here we are, i hope you guys get your answers today
Trade active:
Well well well here's the final update of the trap series i made, Bitcoin now looks more likely heading towards 1100 level
