Hello all, this analysis is still about the bitcoin's potential movement in the lower time frame which we know that in higher degree the price is still trending in the consolidation zone which provide with less volatility. But, in the lower time frame, we still can get benefit from the lower time frame's volatility with short term possible price action.
In the lower time frame, there are several things that we can see is pretty significant to affect the future's movement. First of all, I'd like to buy the price action in the dip which means that I need the price to drop to the specific price level so I can buy it some for the day trading purpose.
First of all, the significant price action is at the rejection that has occurred since the price touched the resistance trend line and got rejected. From this perspective, we know that the trend line is a crucial level of resistance we need to break in the near future. However, it looks like that we'll continue to see the price to trends lower to the blue region to increase the momentum and goes up to test the gray resistance zone.
I still feel the bullish bias in the short term as the price is still showing us the strong momentum of going to the upside. However, I will ONLY buy the bitcoin when it has a dip toward the downside as buying at current level is not worth the potential risk occurs.
In the lower time frame, there are several things that we can see is pretty significant to affect the future's movement. First of all, I'd like to buy the price action in the dip which means that I need the price to drop to the specific price level so I can buy it some for the day trading purpose.
First of all, the significant price action is at the rejection that has occurred since the price touched the resistance trend line and got rejected. From this perspective, we know that the trend line is a crucial level of resistance we need to break in the near future. However, it looks like that we'll continue to see the price to trends lower to the blue region to increase the momentum and goes up to test the gray resistance zone.
I still feel the bullish bias in the short term as the price is still showing us the strong momentum of going to the upside. However, I will ONLY buy the bitcoin when it has a dip toward the downside as buying at current level is not worth the potential risk occurs.
