BTCUSD is almost has the ascending channel, along with tweezer top at the top which is double rejection & has the chance to take the short opportunity.
BTCUSD bull run seems to be due for a correction. The 4H chart shows major divergence on the RSI. Besides, the price has gone too far away from the 50MA (red line) and is at the psychological level of 30000. A correction toward 26000 (50MA) or further up toward 21000 (200MA) on the 4H chart seem likely. Watch out!
BTCUSD is expecting to reach at $29,000 & has the potential move to the upside. US dollar Index is weak & things correlating well enough. On 15min formed consolidation. Expecting to move to the upside. Have a great weekend!
BTCUSD Analysis in Xmas.
● 20-30% - FED increasing currency liquidity powerfully. (Covid-19)
● 60-70% - Normal condition. (fall back and rise)
● <5-10% - Very Bad news about Crypto.
BTCUSD has been supported perfectly on the weekly 200MA as I discussed in my previous post in 2019
The 200MA has proved to be a perfect entry on the corona dump.
As one can see, the downward sloping trendline resistance has been broken.
Also the 10000-10500 area which was proving to be a major resistance zone has been flipped as support which confirms the bull...
BTCUSD
running large count we are at b count
possible c wave 4200 supply zone if cross 4400-4800
count invalid 3200
Bullish Area 3350-3400
weekly ma support at 3250
gartley pattern
count invalid 3200
double bottom
BTCUSD on BITFINEX can be bought Tomorrow (02-Mar-2018) at 10800 with Stop-loss of 9800 and Target of 12400
PLEASE DO NOT BUY TODAY! BUY TOMORROW on 02-Mar-2018 ONLY!
