Bitcoin / TetherUSGüncellendi Is 10K on the table? Bitcoin Bull run continues!
Hello Traders,
Yesterday, I posted my technical analysis suggesting Bitcoin may retrace to 7.2K in order to complete the inverse head and shoulders pattern, but the breakout from black downtrendline invalidated my theory.
As you may recall from my previous analysis, I mentioned that there are many similarities between yellow box region and blue box region and it seems like Bitcoin is following almost identical candle pattern. (bull flag -> find support at purple line -> bull breakout -> find support at purple again) I believe that we will see similar situation this time around, except the RSI is oversold territory which we have not see for a long time!!
Technical speaking, we are officially in bull market and psychological barrier, aka 10K, is definitely on the table now. However, I am hoping to see some consolidation in next 5 days to allow recovery for alt coins and cool off RSI. As a matter of fact, I am already seeing people are transferring their funds to alt coins, so we can expect some growth in next few days. Currently 8.3K-8.4k is acting as a resistance, and if the bulls fail to scale above the overhead resistance, we may witness a few days of range bound action between $7800 and $8400 (this will help cool off RSI). My bullish view will be invalidated if the price breaks and sustains below $7785.
SEC decision on Bitcoin ETF will be the driving force for Bitcoin, and there may be a possibility of seeing 10K Bitcoin before this major event.
Happy trading!
Yesterday, I posted my technical analysis suggesting Bitcoin may retrace to 7.2K in order to complete the inverse head and shoulders pattern, but the breakout from black downtrendline invalidated my theory.
As you may recall from my previous analysis, I mentioned that there are many similarities between yellow box region and blue box region and it seems like Bitcoin is following almost identical candle pattern. (bull flag -> find support at purple line -> bull breakout -> find support at purple again) I believe that we will see similar situation this time around, except the RSI is oversold territory which we have not see for a long time!!
Technical speaking, we are officially in bull market and psychological barrier, aka 10K, is definitely on the table now. However, I am hoping to see some consolidation in next 5 days to allow recovery for alt coins and cool off RSI. As a matter of fact, I am already seeing people are transferring their funds to alt coins, so we can expect some growth in next few days. Currently 8.3K-8.4k is acting as a resistance, and if the bulls fail to scale above the overhead resistance, we may witness a few days of range bound action between $7800 and $8400 (this will help cool off RSI). My bullish view will be invalidated if the price breaks and sustains below $7785.
SEC decision on Bitcoin ETF will be the driving force for Bitcoin, and there may be a possibility of seeing 10K Bitcoin before this major event.
Happy trading!
Not
Potential head and shoulders pattern in 15 mins. Target 7800.Not
Not
Confirmed 8148 as a resistance. Expect consolidation in next few days.Not
Not
Market is reacting to this news. Target is still 7800.
coindesk.com/winklevoss-brothers-bitcoin-etf-rejected-by-sec-for-second-time/
İşlem kapandı: hedefe ulaştı
$7805 I will take it. Purple line support is still acting as a good support in mid term. Despite the Winklevoss brothers' bitcoin rejection, Bitcoin is still maintaining its strong stance at $8000 level. It was a great way to cool off the RSI and 8.6K and 9K is definitely on the table now. There is a potential inverse head and shoulders formation, and the breakout of this pattern is 9K, which is another reason I think Bitcoin will hit 9K in near future.
I think 9K will be the major resistance and we may witness a few days of range bound action between $8600 and $9000 if Bitcoin reaches to 9K.
Not
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.