We are seeing an interesting price action on the altcoins index while the bitcoin is having huge upside push following the daily candlestick close.
The altcoins index is now showing us a trending closer to the edge of this crossing point between the yellow resistance trend line and the white support trend line. it's an important stage on the market which means that there is likely we see major volatility in the market.
We have seen a possible bearish trap structure on the altcoins which it temporarily broke below the white support trend line but claims back again above the support trend line and respect it as a support.
If the price can shows us a break out to the upside, we will see major push potentially to the golden pocket zone which it opens probability of dead cat bounce on the majority of the market, it will also brings back the positive sentiment on the bitcoin as well.
The altcoins index is now showing us a trending closer to the edge of this crossing point between the yellow resistance trend line and the white support trend line. it's an important stage on the market which means that there is likely we see major volatility in the market.
We have seen a possible bearish trap structure on the altcoins which it temporarily broke below the white support trend line but claims back again above the support trend line and respect it as a support.
If the price can shows us a break out to the upside, we will see major push potentially to the golden pocket zone which it opens probability of dead cat bounce on the majority of the market, it will also brings back the positive sentiment on the bitcoin as well.
Also I want to add some important point on the bitcoin's analysis which there is a good point we are seeing right now on the daily time frame.
The MACD histogram is ticking up to the upside with possible convex shape which is pretty good for the potential bulls. Also on the MA line, I see the possibility for the golden crossover as well.
If the golden crossover occurs on this structure, we might see some possible upside movement to the area of $20.2k as the base resistance before the down trend occurs.
However, the MACD is a lagging indicator which can also be a misleading indicator as well. But still I'm open to every possibility of move higher even before the price dips lower.
This is just another possibility I want to share with you which I will be very ignorant if I don't cover it.
The MACD histogram is ticking up to the upside with possible convex shape which is pretty good for the potential bulls. Also on the MA line, I see the possibility for the golden crossover as well.
If the golden crossover occurs on this structure, we might see some possible upside movement to the area of $20.2k as the base resistance before the down trend occurs.
However, the MACD is a lagging indicator which can also be a misleading indicator as well. But still I'm open to every possibility of move higher even before the price dips lower.
This is just another possibility I want to share with you which I will be very ignorant if I don't cover it.
Price of the bitcoin is having huge upside spike and once again, we really nail it baby! It's just like what we have covered on the previous analysis, BAMMM!
Right not the price is trending right around the strong resistance zone which is the area of 38.2% fibonacci retracement level. This area is crucial as this was a breaking down point based on previous confirmation of breaking low as well so this has to be a strong resistance zone.
There is also a significant confluence zone on the upside which the 200 MA on the 4 hours time frame and the white support trend line which was a broken support and is now becoming resistance as well. If the price can break above this resistance, this movement can be extended to the area of golden pocket zone around $22.6k as well.
Focus, everything is on play based our previous scenario I've mentioned baby!
Right not the price is trending right around the strong resistance zone which is the area of 38.2% fibonacci retracement level. This area is crucial as this was a breaking down point based on previous confirmation of breaking low as well so this has to be a strong resistance zone.
There is also a significant confluence zone on the upside which the 200 MA on the 4 hours time frame and the white support trend line which was a broken support and is now becoming resistance as well. If the price can break above this resistance, this movement can be extended to the area of golden pocket zone around $22.6k as well.
Focus, everything is on play based our previous scenario I've mentioned baby!
Good day everyone
I don't often post results here but we're milking the market daily and you can always join us.
I don't often post results here but we're milking the market daily and you can always join us.
It's almost 50/50 on the proportional of long vs short on BTC/USD pair around the exchange.
Bitcoin itself is now trending at local support but there isn't any sign of bounce yet. Because of this, we must be aware about potential uncovered volatility in the future.
Bias is neutral and we have to keep waiting for the next movement as well baby. Be patient, we will get an opportunity to enter a trade. Most importantly, don't get trapped in uncertainty. Clearly High risk!
Bitcoin itself is now trending at local support but there isn't any sign of bounce yet. Because of this, we must be aware about potential uncovered volatility in the future.
Bias is neutral and we have to keep waiting for the next movement as well baby. Be patient, we will get an opportunity to enter a trade. Most importantly, don't get trapped in uncertainty. Clearly High risk!
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☑️The market maker already knows there are so many retail traders desperate to make money.You need to learn how the market makers work or else you will keep crying Forex is a scam while others are making it big.
☑️ Enroll in our mentorship classes and learn our most profitable Strategy and make money like a pro
☑️We provide 3 to 4 accurate signals daily in VIP.Dont lose your money while others are making it big
Talk to admin and join all available services.
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