Bitcoin sitting on a key level right now
Updated
hey guys welcome to another Bitcoin XBT update, before continuing plz check out the last Bitcoin update if you've not yet
now here in latest chart nothing more to say, you can see the support level which we've already tested 5 times and its getting weaker now, also notice that previous two rallies retraced exactly from fib786 level but last rally bounced only upto fib50 level which is around 10900, honestly i was expecting this rally to go at least fib618 level which is sitting at 11230 but looks there's lot of selling pressure, also notice this daily chart of Bitcoin below
which shows the daily 100MA (orange line), prices already tested this support for 5 times and now its weak, any drop below this level will confirm the action for new lows so be prepared with your stops, meanwhile prices could also get strength and bounce from this level of support, so its better we stay neutral and let the prices decide their own direction.
that's all for now hope this idea will help you to make profits like the previous one's;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
thanks you, this is Husain Zabir signing out
now here in latest chart nothing more to say, you can see the support level which we've already tested 5 times and its getting weaker now, also notice that previous two rallies retraced exactly from fib786 level but last rally bounced only upto fib50 level which is around 10900, honestly i was expecting this rally to go at least fib618 level which is sitting at 11230 but looks there's lot of selling pressure, also notice this daily chart of Bitcoin below
which shows the daily 100MA (orange line), prices already tested this support for 5 times and now its weak, any drop below this level will confirm the action for new lows so be prepared with your stops, meanwhile prices could also get strength and bounce from this level of support, so its better we stay neutral and let the prices decide their own direction.
that's all for now hope this idea will help you to make profits like the previous one's;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:)
thanks you, this is Husain Zabir signing out
Trade active
looks like bulls have hold the support strongly and are getting strength to push the prices in 11200 zone, but we definitely need a confirmation pump before this which breaks the 10350 level, incase if trade goes against us than 10050 - 9900 might be a good stop zone, best of luck:)
Trade active
Great so finally Bitcoin has decided its next move, glad that i wait for the confirmation and didn't took amy position, be ready for the new lows in September new analysis coming tomorrow,
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