Author

Topic: Bitcoin Technical Analysis - April - Week 2 (Read 121 times)

newbie
Activity: 62
Merit: 0
April 08, 2018, 06:53:12 PM
#5
This is pretty solid short-term analysis I think, but I usually stick to daily charts.

I'm also looking to the daily & weekly charts, but since the price is moving between two strong demand are around 6,400 and supply area around 11,700 on the daily so i decided to go lower to analyse the short term.
but if we talk about the long term, the uptrend will not be confirmed until the price breakout the supply zone @ 11,700
sr. member
Activity: 1400
Merit: 347
legendary
Activity: 1204
Merit: 1028
This is pretty solid short-term analysis I think, but I usually stick to daily charts.

The resistance lines from my daily chart analysis show that we broke the long term line since $1800 which in theory would mean we would be going towards the $4000 range, but once again this is just TA, and many whales use the hope and expectation of trend lines being accurate, which means the price may go below a trend line but start going back up without touching the next expected resistance line.. this is how shorts get rekt and price squeezes happen, marking the end of a bear market and the start of the bull market. Personally I still see $5900 as the bottom, but we'll see about that.
sr. member
Activity: 714
Merit: 250
Defend Bitcoin and its PoW: bitcoincleanup.com
This is pretty solid short-term analysis I think, but I usually stick to daily charts.
newbie
Activity: 62
Merit: 0
Hi,

Bitcoin price is running between the demand area around 6,800 & supply area around 7,300
It's expected that the price will continue going up to the supply area 7,300 before we can see any down movement

https://i.imgur.com/rX2WOJu.jpg

It is worth to be mentioned that we have :-
Demand Zone @ 6,600
Supply Zone @ 7,900
Supply Zone @ 8,500

- Note:-
This analysis is possible to agree or disagree with yours, so please don't depend on my analysis if it's not match with your analysis
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https://t.me/Airdrop_Artist
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