Bitcoin Chart Review and Update #56 ?
https://www.tradingview.com/x/pzdsb21b BTC Chart Published By GODFOMEO at Tradingview July 4th 2020
BTC Chart Review
Comment: As you can see same patterns repeating over and over again. We form a bearish grind line. Have a false breakdown which is bought up. A similar thing is likely here. a false breakdown into 8800-8900. Volume is dead. Volatility is next to nothing. So, a buy back into the expected ceiling before the final meltdown looks pretty much on the cards to me. Anything above the 9600(in green) is Swing trigger for long and also a long trigger for spot folios to get majorly into BTC.
BTC RSI https://www.tradingview.com/x/T6F0c5ow/ $BTC. RSI is screaming a move very soon. let's see if we see a wedge breakout on the RSI or a failed wedge meltdown just like the last time
BTC Analysis Some Charts You Have To Look Before You Trade It Will Helpfull For Your Trades.
Chart By SatoshiGrinders July 6th 2020
Bitcoin is approaching a strong resistance, If we are able to break through the the local resistance, bitcoin should continue bullish price action to the $9,700 level, On the other hand, leaning towards the bearish side if it is a false breakout will result in revisiting 8,700 - 8,900 levels where demand zone confluence with trendline support of the triangle
Chart By SatoshiGrinders July 7th 2020
Bitcoin possibly playing into the triangle for the next 50 days.This current trading zone is allowing some alts to make some moves until one or the other happens.
#bitcoin ten days realized volatility = 20% Last time we reached that level, we had the great sell-off of November 2018 shortly after #skew
So what do we have now. SP500 and DOW are retracing. BTC also show intentions to fall down to 9100-9138. If it happen and we will see some good volume on that dip with long wick coming back up (as bulls win the battle), that will be a sign for good potential bounce to 9600 zone. That stage before impulse move may take 1-2 days.
Bearish scenario is that dump pass that support zone and drop lower to ~8900-9000. And there who knows... But I'm relatively bullish.
Posted Using LeoFinance
