50000 is a crucial level, breaking it will go to around 42000 and then 30000. However, the uptrend momentum has lost steam so keep a cautious approach.
hello guys, today analysis is about BITCOIN.
this is not about the buy and sell signal, rather about the current chart analysis of bitcoin.
disclaimer: taking a position according to this analysis would be a financial risk. Hence please take your own analysis, and try to learn from this.
This is just a short term outlook looking at previous trend patterns of BTC buy-sell cycles on a period of 3 months. A basic extrapolation of fibonacci levels can indicate short term long strategies of 2-3% upside over a period of 7-10 days. Let me know what you think.
This is my first ever post and love to read your feedback.
This is a 4h candle chart, Support and Resistance drawn using Fib Retracement.
There are two trend line one is short term and other is long, in which short term trend line is not much helpful.
Just like the past trend ,where we can see the 2day or 1-19h period bit recovers from the losss and so it will this time ..
So lets see...
if it gets the 57 mark again we can expect some bubbles and stuff
Price action looks bullish, we might stop a little at 57-58K resistance, long for now!
Also the reason for yesterdays crash is fixed up, there was some blackout in China, that's fixed up now, BTC network in full swing even mid-term seems bullish from here
