BTCUSD CHART ANALYSIS ON MID & HIGHER TIMEFRAMES!
https://www.tradingview.com/x/f36VoGVj/
Firstly, on bitcoin note the bullish Cup & Handle pattern that sure has been in formation for a long time.
On the 1HR & 4HR charts price is getting support on the 200 EMA & 50 EMA respectively. Ideally on the 1HR chart we want the 200 EMA to form underneath the 50 EMA.
Digressing a bit, my feeling is that next week precious metals like Gold will not perform as well as they have this week. Gold in particular is overextended and overbought on the higher timeframe Stochastics. Silver to a lesser extent which will still shine over Gold in the short term. Notwithstanding, the Gold price will go through the roof next month when the USA finally moves on reducing interest rates which is almost a certainty IMO.
I think that the recent blunt price action in Bitcoin as the focus has been on Gold the last couple of weeks, it could be a bullish run for Bitcoin coming up from this Monday. The 1HR chart looks very bullish to me.
Firstly, on bitcoin note the bullish Cup & Handle pattern that sure has been in formation for a long time.
On the 1HR & 4HR charts price is getting support on the 200 EMA & 50 EMA respectively. Ideally on the 1HR chart we want the 200 EMA to form underneath the 50 EMA.
Digressing a bit, my feeling is that next week precious metals like Gold will not perform as well as they have this week. Gold in particular is overextended and overbought on the higher timeframe Stochastics. Silver to a lesser extent which will still shine over Gold in the short term. Notwithstanding, the Gold price will go through the roof next month when the USA finally moves on reducing interest rates which is almost a certainty IMO.
I think that the recent blunt price action in Bitcoin as the focus has been on Gold the last couple of weeks, it could be a bullish run for Bitcoin coming up from this Monday. The 1HR chart looks very bullish to me.
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