Topic: Bitcoin Update April 23 (Read 143 times)
ATLeast were seeing big effort for this breaking's and if this continues and succeeds,for sure we will be looking for a bull run,and i guess this will be very fast just like what happens in the last season of 2017 though i think its far from that huge hike,but still some good move up for this great coin
Wow i do not understand some of its terms being stated this is the most nose bleeding thread i have read in the entire forum. I could not get directly the point how he evaluate the certain circumstances using those unfamiliar words. Well anyway i do understand the conclusion and it is all about piercing bitcoin market price to 9K USD that has failed. It is not a good sign for the bitcoin market price today to go higher but i know that eventually it will get high. Just as what other members said that we have to patiently waiting for the right time to come for bitcoin to go really high. Patience is a virtue and now a symbol also for money here in bitcoin.
In support of the growth of the Crypto currency quotations, a support level test will perform, as well as a test of the lower boundary of the uplink. Earlier, a strong signal was received for purchases of Bitcoin's crypto currency, due to the intersection of signal lines at 8150 level.
The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 7600, which will indicate a change in the upward trend in favor of a downward trend. Expect the acceleration of the growth of quotations BTC / USD stands with the breakdown of the resistance area and the closing above the level of 9100.
The cancellation of the variant of Bitcoin quotations growth will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 7600, which will indicate a change in the upward trend in favor of a downward trend. Expect the acceleration of the growth of quotations BTC / USD stands with the breakdown of the resistance area and the closing above the level of 9100.
yeah i agree.. it can not break the $9k resistance level.. and i don't see any sign for now that it will going up again.. maybe its going to fallback again.. i see LH and LL still.. but i am hoping that it will soon rise again and break the $9k level of resistance this coming may..
Second attempt at breaking $9k currently being rejected.
Resistances - Price has once again been rejected at $9k, the zone of resistance we spoke about all week. A break above this level remains the upmost important for a continuation of bullish movement.
Supports - Below current price we have a zone of confluent support at $8.6k created by previous price action and the .786 fib level.
Should we fall below $8.6k there is a stronger zone of support around $8.4-8.3k
Moving Averages - Speaking of support, the 50 MA on the 4H is also in confluence with our zone at $8.4-8.3k. This gives us added confidence that if price were to make it back down to this level, it would likely provide enough strength for a bounce, at the very least.
Ichimoku Cloud (same situation as yesterday) - As stated throughout the week, the 1D kijun at $9k was our target using cloud metrics, which was hit and is now acting as a strong level of resistance. Should we break above that we would then look for an entry into the 1D cloud and up towards the opposite edge. The kijun mission comes first, though.
Oscillators - Short term time frame (4H), we see the RSI falling and making lower highs while price is making higher highs. Due to price also being at a confluence of resistance this bearish divergence is one to take note of. A slight pullback on the 1D RSI to retest the zone of previous resistance at 60.0 from above would not be out of the picture either, and completely healthy behavior.
Conclusion
Price gave a weak attempt to pierce $9k again, which was rejected and has price currently hovering right below this zone.
We see a few reasons why price may pullback here to reset at highlighted support zones, the RSI bearish divergence at resistance being the main one. After such a strong run upwards a pullback would be healthy and nothing to say the recovery is over, unless it broke important levels of support.
All in all: still bullish, but a small pullback away from the heavy resistance at $9k would be of no surprise.
Twitter & Telegram: @BoomerCapital
Website: boomerangcapital.org
Resistances - Price has once again been rejected at $9k, the zone of resistance we spoke about all week. A break above this level remains the upmost important for a continuation of bullish movement.
Supports - Below current price we have a zone of confluent support at $8.6k created by previous price action and the .786 fib level.
Should we fall below $8.6k there is a stronger zone of support around $8.4-8.3k
Moving Averages - Speaking of support, the 50 MA on the 4H is also in confluence with our zone at $8.4-8.3k. This gives us added confidence that if price were to make it back down to this level, it would likely provide enough strength for a bounce, at the very least.
Ichimoku Cloud (same situation as yesterday) - As stated throughout the week, the 1D kijun at $9k was our target using cloud metrics, which was hit and is now acting as a strong level of resistance. Should we break above that we would then look for an entry into the 1D cloud and up towards the opposite edge. The kijun mission comes first, though.
Oscillators - Short term time frame (4H), we see the RSI falling and making lower highs while price is making higher highs. Due to price also being at a confluence of resistance this bearish divergence is one to take note of. A slight pullback on the 1D RSI to retest the zone of previous resistance at 60.0 from above would not be out of the picture either, and completely healthy behavior.
Conclusion
Price gave a weak attempt to pierce $9k again, which was rejected and has price currently hovering right below this zone.
We see a few reasons why price may pullback here to reset at highlighted support zones, the RSI bearish divergence at resistance being the main one. After such a strong run upwards a pullback would be healthy and nothing to say the recovery is over, unless it broke important levels of support.
All in all: still bullish, but a small pullback away from the heavy resistance at $9k would be of no surprise.
Twitter & Telegram: @BoomerCapital
Website: boomerangcapital.org
Jump to: