Bitcoin: Still Bullish
CoinSavvy here with a Bitcoin Analysis.
Bitcoin closed the daily chart with a hanging man doji and right below $9,000 however I think that’s just due to the exact time that it broke bullish and the lower time frame oscillators being at extreme levels.
If you take a look at the weekly close it looks very bullish with a higher low set and now a higher high.
Higher time frame oscillators are bullish and there is bullish divergence on the lower time frames with the RSI.
From my previous analysis I would still say $9,500 to $10,000 is a target.
Shorts have been stacking up since $8,000 and have not covered and only 1,000 of them are hedged (Bitfinex)... I would say this is perfect fuel for a final short squeeze that could get us a lot higher than $10,000.
12 hour closes below $8800 would be a sell and I would pick back up for the CME gap fill around $8,500.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
Bitcoin closed the daily chart with a hanging man doji and right below $9,000 however I think that’s just due to the exact time that it broke bullish and the lower time frame oscillators being at extreme levels.
If you take a look at the weekly close it looks very bullish with a higher low set and now a higher high.
Higher time frame oscillators are bullish and there is bullish divergence on the lower time frames with the RSI.
From my previous analysis I would still say $9,500 to $10,000 is a target.
Shorts have been stacking up since $8,000 and have not covered and only 1,000 of them are hedged (Bitfinex)... I would say this is perfect fuel for a final short squeeze that could get us a lot higher than $10,000.
12 hour closes below $8800 would be a sell and I would pick back up for the CME gap fill around $8,500.
Coin Savvy, signing off. Enjoy your night, enjoy the charts, and respect the technical analysis .
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