Bitcoin back in the game! Following on from my previous chart, BTC had fallen out of the ascending triangle and was consolidating at around 0.5 fib $6475. The 4 hr candle broke above and then opened back inside the ascending triangle after finding support and the hidden bullish divergence on the RSI is still in play.
We have 2 trend lines acting as strong resistance, the purple trend line which connects the peaks on 24 July, 4 September and 28 September and the orange trend line connecting the peaks on 05 May and 24 July. Once we break through these 2 trend lines and above the bullish ascending triangle around $6800, we should have enough momentum to break the previous $6839 high set on 22 September and price should reach $7037 at 1.272 fib using Fibonacci retracement with a possible extension to 1.424 fib at $7140.
Bitfinex being the most bullish exchange is conducting a 2 hour maintenance today so set alerts and take precaution.
Happy trading and good luck!
Previous analysis:
We have 2 trend lines acting as strong resistance, the purple trend line which connects the peaks on 24 July, 4 September and 28 September and the orange trend line connecting the peaks on 05 May and 24 July. Once we break through these 2 trend lines and above the bullish ascending triangle around $6800, we should have enough momentum to break the previous $6839 high set on 22 September and price should reach $7037 at 1.272 fib using Fibonacci retracement with a possible extension to 1.424 fib at $7140.
Bitfinex being the most bullish exchange is conducting a 2 hour maintenance today so set alerts and take precaution.
Happy trading and good luck!
Previous analysis:
노트
Bullish flag forming on the lower time frames.
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.