BTC 4h update

BTC is facing a tough resistance: MA50 + EMA100
We need to break above those MAs and then the target would be EMA200 (which currently sitting at 7k)

💡RSI keeps being rejected by the declining trendline, but soon the resistance will be broken. Watch the RSI closely, it may break out first

🎯 CME Gap got filled like we expected

BTC 4h Update

RSI broke above the resistance

The price has found support at the MA50 and EMA100 that are forming a pretty decent support cluster. Looks like the price is ready to go up to EMA200 (everting will turn around if we break back below these MAs)

BTC 4h update

RSI got rejected by the declining trendline once again

We returned back below the MA50 and EMA100 and nearing the next support zone - mid line of the channel. If it doesn’t hold, next stops would be 5900 and low 5ks (the bottom of the channel)

BTC 4h update

RSI clearly broke out📈

The mid line of the channel mentioned in previous update held the price. We pretty confidently broke above MA50 & EMA100 and now we are building some sort of a small bull flag formation

🎯EMA200 remains the main target, but now we can put 7.5k (the top of the channel) on the table

BTC 4h Update

🎯 EMA200 (our main target) was hit and we almost reached the top of the channel. Exactly like we expected

​So, in our previous BTC update we mentioned that we were anticipating the price reach EMA200 for the least (and we got it!) and in our Bullet Scalping channel we acted accordingly

Look at that: today we entered BTC Long trade at 6667 and now you see BTC skyrocketing above 7k

🎯We caught this move perfectly. All Targets reached! Profit 37%!

If you want to buy our Bullet Scalping subscription - contact @Likeniss

BCH halving is less than 5 days away and BSV reward per block halves in less than 7 days

Their halving is a whole month before BTC halving which means that for this upcoming 30 day window it will be double more profitable to mine BTC. More BTC miners theoretically means more selling pressure

BTC 4h update

EMA200 has proven itself to be a pretty tough resistance: we got two fake breakouts

Now we are headed down
📍Critical support to watch is 6.3-6.5k range: we got MA50 + EMA100 + the mid line of the channel coming there

Keep an eye on the RSI. Looks like we are going to test the declining trendline - former resistance

BTC 4h update

We finally broke above EMA200 and now we can reach as high as the top of the channel (7.8k-8k)

Major moving averages are below forming a tremendous support

BTC 4h update

That was a solid run up, however we have not got a decent volume on this rise. A pullback will probably be supported by EMA200 on 4h

RSI hit its highest level since February 9th and now rolling over

BTC Golden Cross printed & confirmed

Recent performance of this Cross on 4h chart

BTC 4h update

Like we said in previous update, lack of volume on that rise was concerning and that’s why - we’ve fallen down by $400

And like we anticipated, this dump is supported by EMA200. Trendline on the RSI is being tested right now. Let’s see if the support holds

BTC 4h update

We’ve been stuck in the Support Cluster for a while. Volume is declining which indicates that the big move is coming

⚠️ Golden Cross faded and the moving averages are now crossed in a bearish manner

BTC 4h (zoomed in)

The price of Bitcoin is being squeezed between EMA200 (resistance) & the red horizontal line (support)

The volatility is imminent and more likely we will see a breakout tomorrow with the stock market open since there is some correlation.

📍CME closed at 7315, so there will likely be a decent Gap

💡If the sentiment on traditional markets well be positive (watch the S&P500 Futures), we could fill the gap tomorrow. If tomorrow is a red day in the stock market, get ready for lower 6ks.

That escalated quickly 🚀
BTC now back above 7k

BTC is back in bearish territory

Death Cross present

Like we said in previous BTC update, watch the S&P500 Futures

Bitcoin is still pretty much correlated with the S&P500

📌Bitcoin crashed at the same time with the stock market futures

BTC 4h update

Key points:

⁃ Support Cluster turned into a Massive overhead Resistance
⁃ RSI is still respecting that declining trendline amazingly well. As of right now we are bouncing off it

💡We may see a short-term bounce towards the resistance cluster and get rejected there. As long as we are below the resistance, the bias is bearish. That’s the technical picture, but keep an eye on the stock market. In case of positive sentiment there, BTC should follow