BTC Update, Buy the retest
✴️ BTC Update
The technical situation on a horizon of 4 hours during the previous session suggested the possibility of a rise with a test of the 9000 zone (red rectangle). This is exactly what happened, but the BTC did not manage to break it.
On a daily horizon, the WaveTrends has crossed upwards thus materializing a buy signal while the MACD is getting closer and closer to a cross.
📈 Trend follower?
The trend follower remains positive on the daily and 1 hour horizon but is for the moment still negative on the 4 hour horizon.
👉 What can be done?
Nothing changes since yesterday's analysis guys, as long as Bitcoin doesn't break the 8950 - 9050 resistance zone, the more conservative among us will wait patiently. If however you are willing to accept more risk, a long position can be opened by retesting the support zone formed by Tenkan and Kijun ( 8680 - 8730 ) to aim for 9000 in the first instance.
This zone also corresponds to the 38.2% Fibonacci retracement, traced from the last bullish wave.
💹 Altcoins?
There is a little more red than green over the last 24 hours but we can nevertheless see some impressive increases such as BAND which is up 17% or STORM which is up more than 7%.
The dominance of the altcoins has still not returned to its mid-February level but it remains in its support zone, which leaves the possibility for a rebound.
Stay cautious as usual guys!
The technical situation on a horizon of 4 hours during the previous session suggested the possibility of a rise with a test of the 9000 zone (red rectangle). This is exactly what happened, but the BTC did not manage to break it.
On a daily horizon, the WaveTrends has crossed upwards thus materializing a buy signal while the MACD is getting closer and closer to a cross.
📈 Trend follower?
The trend follower remains positive on the daily and 1 hour horizon but is for the moment still negative on the 4 hour horizon.
👉 What can be done?
Nothing changes since yesterday's analysis guys, as long as Bitcoin doesn't break the 8950 - 9050 resistance zone, the more conservative among us will wait patiently. If however you are willing to accept more risk, a long position can be opened by retesting the support zone formed by Tenkan and Kijun ( 8680 - 8730 ) to aim for 9000 in the first instance.
This zone also corresponds to the 38.2% Fibonacci retracement, traced from the last bullish wave.
💹 Altcoins?
There is a little more red than green over the last 24 hours but we can nevertheless see some impressive increases such as BAND which is up 17% or STORM which is up more than 7%.
The dominance of the altcoins has still not returned to its mid-February level but it remains in its support zone, which leaves the possibility for a rebound.
Stay cautious as usual guys!
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