Bicoin
Bitcoin Monthly | Please Explain $100,000, $140,000 & $165,000!This is the monthly chart for BTCUSD (Bitcoin) which shows the bulls in full control.
First, we use EMA10 as a gauge of bullish/bearish potential for any altcoin trading pair.
Above EMA10 for us equals bullish.
Below EMA10 for us equals bearish.
Right now, Bitcoin is trading safely and strongly above EMA10, keeping the potential towards the bulls.
The immediate resistance is set at $65,000 on this timeframe based on my Fibs.
We follow up with $80,000 and here we have $100,000 all the way up to $165,000+ as potential targets.
In general, the idea is that the market can always change... That's the charts are always changing and we can only prepare based on what is happening rather than act based on what we think will happen.
What is happening here is that Bitcoin continues higher and is aiming for more.
This chart here is pretty clear, we have been having strong bullish action but prices can continue to grow.
We do not see any downward pressure...
We are not testing any new support.
Instead, Bitcoin continues moving higher, we are now facing resistance again and as soon as the resistance is broken, the Bitcoin price continues its run.
How long will this go for?
I honestly don't know.
But as we break above $80,000, we are very likely to hit $100,000+
That would be great, wouldn't it?
Let me know in the comments section.
Thanks a lot for your support.
Namaste.
BITCOIN IN RANGEThe bullish trend has lost steam, however it cannot be considered a bearish approach yet, as the price is in a deceleration of the trend, not in a clearly defined bearish trend.
My advice is to wait for the price at one of its extremes to observe its behavior, and decide whether to use swing trading or think about a break.
Trade setup on 💰Bitcoin for Swing Trader. Trade Setup for "Swing Trader" :-
Plan (A):
Sell 9692-9780 nearby target as 8874-8838 and 8842 nearby
If you can chance, then
Plan (B):
Sell, 10086-10333 nearby for target 8874-8838 and 8842 nearby
The U-turn(at 5th wave) clear on Projection in next month. We'll in down-side trend before the starting next month.
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======================= Replay (last worked) ======================
BTCUSDT Dipping Check it Fast.Right Now Its Looks Like BTC Breaking the uptrend line.
Check the Support At 6400
Second Support at 6350
Note: This is only for Educational Purpose this is not an Investment advice.
Please support the setup with your likes, comments and by following on Trading View.
Thanks
Adil Khan