Bitcoin bullish

Yea, Bitcoin has chosen the right way to go! Got above 8300, so now it will act as support for the next time it pull back. With such candle and volume it is targeting 9000-9150 for sure. Shorting BTC at this stage may give ~2% scalp, but risk is too high, as way up will bring much better prizes. HODL!

Resistance: 9040 - 9150 - 9550 (longer term, but BTC is capable of covering this distance in one wick 10500)
Support: 8200-8300

Progress for past 4-5 days:
Fear & Greed index: 56 (<= 49 <= 45 <= 50 <= 41)
BTC Dominance: 68.2% (<= 68.1 <= 68.1 <= 68.1)
24h Volume: $96.3 billion (<= 77.3 <= 85.2 <= 101)

Remember the big picture of cycles (caused by halving).

Note

Got into red resistance zone and pulled back. Look promising at 4H chart, but day volume is too low for reversal, so still short. Got to see how day candle will close, as we still haven't seen retest of ~8600-8635 zone, which is also possible, but mid term target is 7800 - will be there within 2 weeks time.

Note

Retest of ~8635 zone complete. With such bullish day candle it is hard to think bearish at all, but we should always think both way in order not to get trapped by momentum. So, what do we have in pure facts:

Bearish/Neutral: lower high at day TF is at 8796 is still above + CME gap at 8540-8585
Bullish: MACD bullish cross at week TF + bullish EMAs + halving

So far bullish mind wins, but retracement will happen soon. so I moved long zone higher to 8460-8500 with smaller chance to go lower to 8400. That is for the nearest move. If these zones bounce the price, BTC will enter a very bullish stage of growth

Note

CME gaps are multiplying at Bitcoin CME futures 4H chart. This time gap is larger, so more attractive for the price. That is a bearish move signal for future, which may happen within 2-3 days time.

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WiseAnalyze

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