Bitcoin current price On Major Support 5.9k $what do you Think guys Bitcoin Break The Major Support Of 5.9k $ ?
If Brakout Then Next Support Is Our Hope
Bitcoinprice
BTC-USDT: short lived bullHello,
Looks like bull runs could not continue beyond a few weeks.
200 day Moving Average is a major resistance for BTC. Thus the touched it and came down twice is past month.
Next support is near 7.6k at the bottom of the Ichimoku cloud.
Let's see how it pays in next couple of weeks.
One last bitcoin drop is inevitable - price will test 4000-4500kBitcoin tested 7k level last month around 18th march post which it jumped to 9k level by 23rd march. My initial though was, is bear market over? are we starting with next run?. I was patiently waiting for some of the major resistance to be breached. End of march, bitcoin again tested 6.5k level and has been hovering around 7k since then. This particular junction is very critical for bitcoin as it could end the bear market or lead bitcoin to test lower lows. I looked into couple of metric to decide my future course of action. I started with the VOLUME, and i was disappointed as we were getting relatively low volume which clearly mean that we are looking for one more low. Then i went back to history and start looking chart mathematically, turns out elliot triple wave still into play and could take us to new low. Most of the Alts this session has retracted below 78.6% fib, and bitcoin is still to test it. When i combined these insights with Elliot wave count, i feel we'll be retracing somewhere between 4000-4500k. I genuinely believe that, this is the point where big cooperation backed by VC will jump in to accumulate most of the bitcoin and give the necessary for the next bull run.
Let's see how the price plays in future
BITCOIN UPDATE- Buying gets triggered above $8200 Despite dipping below its 8-months trend line of $7800 and touching a daily low of $7318, Bitcoin managed to recover above its major support area of $8000 due to the recent short covering in today's session. We can see a small falling wedge pattern on the charts today which indicate a short term exhaustive buying in BTC if it sustain above $8200.
Bitcoin is taking the immediate support at $8000, below which the next key support area is $7800. On the upper side, it is facing resistance around $8500-$8600. A break above this level we can take target resistance to $9000.
However the long term technical outlook still seems a bit shady for Bitcoin as it is hovering around its 8 months trend line and traders are skeptical about the future of the digital assets amid all the negative news.
BTCUSDyou can see in my last morning post the big support near to 5800$ to 6200$ is very important for today so we can see past few hours btc moving near to 7500 also after the 3days big fall btc covred small position if this trend will continued we will see 8500 or 9200 resis level testing. in this month we will see bitcoin will cover to 12000$ again. if market in good moment then we can see in march 15000$ or 17000$
WARNING WARNING WARNING.Bears Dominating(BITCOIN PRICE ANALYSIS)hello guys,
in my last analysis I already told you guys to exit from btc market if it broke major trend line support now we can easily see that big red candle breaks the major trend line it means bears and dominating now bitcoin chart showing full bearish moments right now it breaks that major trend line which is not good sign for bitcoin at the moment it can possible dump down to 5400$ still if anyone holding their btc sale right now it can dump huge its my personal suggestions we can buy back again at 5400_5800$ buying Zone right now market is fully bearish its only my personal suggestions 1day chart TA saying it can dump huge in coming days so sold now and buy again at that buying zone you can see that blue circle zone that will be next buying zone for us which is 5400$
Good Luck
Stay Bless.
