Topic: BTC Technical Analysis - page 3. (Read 529 times)
I don't agree with the analysis of us seeing a dip in few hours because I from my analysis and calculation, we should already be over the correction and we should now be expecting a bull run, though the bull run might not come immediately but this won't cause a dip in price, we would just have the price of bitcoin staying between the rate of $4000 - $4200 for a while, maybe like one month then we would begin to see the bull run.
I think we should wait, because there is no clear trend to what can happen, the slight lateralization can trigger a rise or fall in price. It would be excellent if a small bull appears, but surely there will be correction because those who increase the price should take profits.
However I agree with a brief lateralization that is what is already happening, but I do not think it will last for a long time, this because the intersection between the two SMA is coming and with it inevitably will come volatility.
Technical analysis is also probable, and to date I find a short-term correction more likely. As I said, only a green candle that goes to break the SMA 50 could reverse the trend, but today I find it very very unlikely.
I also find interesting the situation of ETH (https://bitcointalksearch.org/topic/eth-technical-analysis-5115698 here analyzed) because it could act as a catalyst and bring behind BTC and all the ATL
I think we should wait, because there is no clear trend to what can happen, the slight lateralization can trigger a rise or fall in price. It would be excellent if a small bull appears, but surely there will be correction because those who increase the price should take profits.
💊 BTC Update
We are still within a range between SMA 100 support (currently $ 3796 and up) and $ 3835 resistance.
The SMA 100 on the 4H is what is holding BTC from a fall.
Keeping this trend we will gradually tighten the range, and BTC will be "forced" to take a direction.
There is also to consider the downward movement in progress on ETH that, if the next support break (read ETH analysis), could trigger sales and transport BTC and all other ALTs.
In my opinion the trend in the short term is decidedly bearish, and the only way to avoid it would be an unlikely upward move to overcome the SMA 50 (currently $ 3852 and down).
We are still within a range between SMA 100 support (currently $ 3796 and up) and $ 3835 resistance.
The SMA 100 on the 4H is what is holding BTC from a fall.
Keeping this trend we will gradually tighten the range, and BTC will be "forced" to take a direction.
There is also to consider the downward movement in progress on ETH that, if the next support break (read ETH analysis), could trigger sales and transport BTC and all other ALTs.
In my opinion the trend in the short term is decidedly bearish, and the only way to avoid it would be an unlikely upward move to overcome the SMA 50 (currently $ 3852 and down).
The trend now is changing, we see the line has moved to get down. Maybe it just a correction, maybe it's the time for the price go back to the lower price. There are so many predictions for now, but we don't have to be panic because of the news because there will be many people who will use this moment to spread the bad news out there. It's better we can prepare for the worst situations if the price decides to go down again so we can make a decision later. We need to wait for a while, and we can hope that the price is not down too deep like before.
BTC Technical Analysis - by CryptoReggae
Greetings to all the crypto traders
This space is a small corner of my trading ideas, and a comparison with those who want to participate.
On this page I will analyze, interpret and discuss only BTC Technical Analysis.
Feel free to criticize, analyze, post new graphics.
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First post, then later modified to add more information to the tread
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💊 BTC Update
Correction coming?
Bitcoin after having invalidated a short-term support (now become resistance) moves sideways, reversing the short-term trend.
Is a new correction coming?
The support of the SMA 100, which supports BTC from further short-term losses, is gradually tightening the price on important resistances.
$ 3835, SMA 50, an important area between $ 3922 and $ 3964, and still $ 4100 are hardly surmountable resistances without a notable bull thrust, this could lead to "pushing" BTC to a further correction at least up to $ 3600 area, then from there we will go to analyze further supports and resistors.
Further correction towards the downside can be expected in the next few hours.
Greetings to all the crypto traders
This space is a small corner of my trading ideas, and a comparison with those who want to participate.
On this page I will analyze, interpret and discuss only BTC Technical Analysis.
Feel free to criticize, analyze, post new graphics.
######
First post, then later modified to add more information to the tread
######
💊 BTC Update
Correction coming?
Bitcoin after having invalidated a short-term support (now become resistance) moves sideways, reversing the short-term trend.
Is a new correction coming?
The support of the SMA 100, which supports BTC from further short-term losses, is gradually tightening the price on important resistances.
$ 3835, SMA 50, an important area between $ 3922 and $ 3964, and still $ 4100 are hardly surmountable resistances without a notable bull thrust, this could lead to "pushing" BTC to a further correction at least up to $ 3600 area, then from there we will go to analyze further supports and resistors.
Further correction towards the downside can be expected in the next few hours.
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