Hello traders! I've been keeping a close eye on Bitcoin for the past few days to see if it was giving any signs for a bullish move. As of now, I don't see any significant signs, but the volume and weekly candle looks good as a starting point. Below is a list of indicators that will help you identify a trend change.
1. Higher highs, Higher lowers - Current resistance (supply zone) is at $9500. 2. If Bitcoin reaches the supply zone, a small correction (such as a bullish flag) is welcomed; otherwise, things could get messier. 3. Moving average 50 and 200 should cross on a 1 hr chart while Bitcoin is trading above it.
Please share your thoughts on Bitcoin :)!
Have a great day, Abdulla
코멘트
⋅
Weekly Candle.
코멘트
⋅
코멘트
⋅
Moving averages: 200 & 50 on 1hr chart.
코멘트
⋅
An educational post I have shared a few months back on trend change.
I expect a retest of the bearish trend line anytime soon followed by another dip - maybe even lower than the previous. If it breaks the trend line i agree with your prediction fully.
It tested it twice so far, now a third time. if it bounces a bearish market is confirmed again.
abdullatrader
⋅
@tianin, I still think we are in a bearish market.
tianin
⋅
@AAlFadhala, yes, so it seems. I wouldn't wonder if we build a stronger double bottom at 5.3 - 6.4K and walk up from there back to 9K for retesting the bearish trend.
luana
⋅
Poor volume, I think it will be the last attempt before a retest.
Jefe
⋅
Do you think this is the end of the correction, @AAlFadhala at least for the next few weeks?