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Bitcoin Analysis

Hitting the 23.6 retrace resistance. Now, the 20 ema is the next hurdle to cross. Still thinking that 6800-7000 would be the target..We are above the 55 MA and clear of the zone where all the action has been typically...

Following on from yesterday's chart, we got the Bull flag break upwards ★after an ABC correction rather than a full triangle★ $7k still plausible if this is another impulse wave up...Bear setup is primed, I think there's a good short coming from $6800-$7200 area. I might even doubt we break the Kumo on the 4HR giving us a short entry now.

Bitcoin has gained the 21 and 55 Day Moving Averages, a look to the left shows the outcome the last time this happened on the 5 Hour Chart; MACD and RSI also show an upward trend and plenty of room to run...

Bitcoin maintains its 1st support level at 6,300 & 2nd support level at 5,800

Even in this bear market there is still money to be made.
Keep in mind btc is still up 51.17% Year over year 🤓
If you see from the charts labeled above, 6/10 of the last 10 daily oversold (RSI(14)) points have occurred between the 11th-14th of the month.

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Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses.