Bitcoin finally break the major resistance zone, what's next?
Güncellendi
hello guys welcome for a short update on Bitcoin BTCUSD, so now finally Bitcoin broke the key resistance level, the red zone or the upper white trend line which i've mentioned earlier in my Ideas,
in above chart you see the white flags represents that bulls have tried multiple attempts to break this zone, but rejected all time, shows that there's heavy sell pressure here
also notice the white line which is 21 monthly EMA, bulls have strongly protect this zone each time, take a look at the green boxes
here in this 4h chart you see my custom RSI is undoubtedly bullish with the break of key resistance
here's my custom RSI in daily chart, clearly showing strong bullish momentum is developing, can't be ignore
here's the trend line am talking about, you see its coming all the way from 13800 and had a strong resistance zone from almost 6 months, of course we broke this zone in Oct but clearly that was a failed break out, now here's the second attempt to break it again.
concluding, now am expecting a pullback towards 72xx-73xx zone and than a potential rally, but if again this rally fails and goes below 21 MEMA than this would be ends as nothing but just another dead cat bounce or a bullish trap.
that's all for now, if you like my work than do support me with your followings, comments and likes
this keeps me boosted with confidence to keep bringing new ideas for you:)
this is Husain Zabir, signing out...
thakyou
in above chart you see the white flags represents that bulls have tried multiple attempts to break this zone, but rejected all time, shows that there's heavy sell pressure here
also notice the white line which is 21 monthly EMA, bulls have strongly protect this zone each time, take a look at the green boxes
here in this 4h chart you see my custom RSI is undoubtedly bullish with the break of key resistance
here's my custom RSI in daily chart, clearly showing strong bullish momentum is developing, can't be ignore
here's the trend line am talking about, you see its coming all the way from 13800 and had a strong resistance zone from almost 6 months, of course we broke this zone in Oct but clearly that was a failed break out, now here's the second attempt to break it again.
concluding, now am expecting a pullback towards 72xx-73xx zone and than a potential rally, but if again this rally fails and goes below 21 MEMA than this would be ends as nothing but just another dead cat bounce or a bullish trap.
that's all for now, if you like my work than do support me with your followings, comments and likes
this keeps me boosted with confidence to keep bringing new ideas for you:)
this is Husain Zabir, signing out...
thakyou
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perfectly as expected
Not
Just published my long term prediction on Bitcoin check it out
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