9.1BTC analysis 📊
School is back in session—new semester, new journey!
The monthly K is also starting anew. Bitcoin has seen two consecutive months of bullish candles. On the daily K, the Bollinger Bands form three tracks, opening upward with the moving averages lifting higher. The KDJ forms a dead cross and the three lines turn downward. The RSI is moving slowly and flattening. MACD’s bullish momentum volume continues to contract, forming a divergence. From the indicators, the market has a need for a pullback. However, price has consistently stayed in a high-range consolidation. Last Friday, there was a sell-off that broke down and then quickly rebounded back to 790,000.
Consolidating at high levels—this is momentum being built and a move is on the way!
Of course, the market never goes in only one direction. There will always be bearish voices. If it can’t hold steady above 80,000, the sell-off could be imminent. Whether long or short, set your stop-loss properly, manage your position sizing, and stay rational!
For Bitcoin support on the downside during the day, watch 78,000, 77,000, and 75,500. Enter and “do a trade” around this area.
Targets to watch are 79,000, 80,000, and 81,000.
School is back in session—new semester, new journey!
The monthly K is also starting anew. Bitcoin has seen two consecutive months of bullish candles. On the daily K, the Bollinger Bands form three tracks, opening upward with the moving averages lifting higher. The KDJ forms a dead cross and the three lines turn downward. The RSI is moving slowly and flattening. MACD’s bullish momentum volume continues to contract, forming a divergence. From the indicators, the market has a need for a pullback. However, price has consistently stayed in a high-range consolidation. Last Friday, there was a sell-off that broke down and then quickly rebounded back to 790,000.
Consolidating at high levels—this is momentum being built and a move is on the way!
Of course, the market never goes in only one direction. There will always be bearish voices. If it can’t hold steady above 80,000, the sell-off could be imminent. Whether long or short, set your stop-loss properly, manage your position sizing, and stay rational!
For Bitcoin support on the downside during the day, watch 78,000, 77,000, and 75,500. Enter and “do a trade” around this area.
Targets to watch are 79,000, 80,000, and 81,000.