CryptoKraze Technical Analysis
Possibility on 4 Hour Chart
If you look at 4 hour chart, you will see Bitcoin has formed a bullish engulfing candle that is a sign of trend reversal. The next candle has come down to half of that bullish candle and now it will move up because profit taking is done. If we look at RSI then a shark fin pattern has formed as well that is sign of trend reversal. This previous 4 hour candle has shown a good bounce with good volume that was needed to break the downtrend in market.
- Bullish Engulfing and Shark Fin are sign of reversal.
- Good Volume spike has shown that whale are now buyings.
- Need a Dogi candle to close on Daily Chart for this bullish move continuation
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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this is very informative blog .thanks to you for sharing..i praise
you..
Carry on
Well i have learned something new never knew what a bullish engulfing candle and shark fin was. Really informative and well written post. Cheers for the info :)
Bitcoin Price Watch; Near Term Reprieve?
Source: @a-blockchain
I agree. All candlestick readings should always be cross checked with the other indicators. I don't hink one should just rely on on type of reading to evetually decide a trade.
In simple English, are you saying that the bitcoin will begin to rise again?
today bitcoin is more popular that any other currency
keep it up dear
That is indeed a very nice candle. I think the market will begin to make a bullish reversal uptrend very soon. By the end of the month we will likely see another sea of green!
If I could go back in time, I would slap my self twice and buy bitcoin. I still remember when my friend told me bitcoin is around $50 and I told him I have a lot of coins, I don't want a $50 coin.
Then I wouldn't need to know the bitcoin economics today and I would be lying on beach in miami with a martini.
If I could go back the second time in time, I would again slap my self twice and be on steemit when it started...
Lovely post boss....i always appreciate your analysis and enlightment on bitcoin and cryptocurrencies...