Bitcoin Analysis

[TareqS]

Bitcoin has been bullish in the daily chart for a while. The level of 18K has been working as a level of support. I assume it may remain bullish up to 27K. Let us wait and watch what happens around 27K.

 

[sebking1986]

Bullish in as far as it is seeing a retracement but on the daily it clearly shows it as bearish still overall in my opinion. As you say I think we need to see it break 28k to start to change our overall bias again. Buy to sell until then.

 

[TareqS]

Bitcoin has been having a bearish correction in the H4 chart. The buyers may keep their eyes in Bitcoin to go long if it produces a bullish reversal at the value area. However, if the price makes a breakout at the last swing low, then Bitcoin may get bearish again.

 

[sebking1986]

Retail buys will. Institutional investors have the bottle to buy on the down candles which is why they get the most discount buys and premium sells.

 

[ForexTus]

Retail buys will. Institutional investors have the bottle to buy on the down candles which is why they get the most discount buys and premium sells.

They really do, its a discount they are looking for just a matter of trying to see if there are markers to jump in with them lol

 

[sebking1986]

IN the grand scheme of things we are in deep discount but I just think there is more to be had sub 20k before they have had their fill.

 

[bigbax699]

Good morning all, update today is a little different. I have included what I found to be interesting with BTC and ETH. As we can see it looks like ETH is leading the way on the current price action. Price for ETH is trading above all 3 of my moving averages. Which is a good indication of a medium trend change at the least. BTC is lagging behind it so far. Could ETH start leading the way? I have seen some people say so. Something to keep a watch on for sure. Anyway onto the trade we are still in good profits and continuing bullish structure. Price has moved and trading above my short and medium term moving averages, so we can keep holding and moving SL into profits as we go. Will update again next week GLIYF

 

[SimonMatthews]

I have a nice trade running on BTC, nice to see the crypto heading north again.

 

[sebking1986]

It certainly is interesting to see ETH appearing to semi-break away from what BTC is doing. A sign of things to come I wonder.

 

[TareqS]

The level of 25K has been working as a level of resistance in the H4 chart. BTC seems to be bearish again upon finding its resistance at that level. Let us wait for the price action around 23.5K.