BTCUSD analysis @14.02.2020
Greetings,
for a while we could see bitcoin rally, recovering from bear market structure.
This is interesting as we are seeing mayor world events happening exactly when we see price action above 200 D MA.
RSI and MACD looks bearish as it shows divergence, HOWEVER looking at market as a whole (daily, weekly, monthly) we can see big investors stepping into market right now.
This kind of scenario looks as healthy accumulation after decline period.
Price moves around $220 daily and right now is between hard support and resist zones. We need to add that it is still above 10k level which is highly psychological, creating higher highs and higher lows on 6H time frames - which for me is fundamental for BTC analysis.
Bulls are trying to breach though 2019 levels - Plus Token exit scam levels. Price action will happen in upcoming days.
Big moves will consider healthy pullback after short rally - now still can go up, down to 9,7k / 8,6k levels in upcoming 1-2 mth
My potential setups are shown on chart. Treat them as my own Trade Journal, as none of my ideas can be treated as a financial advice.
This is not a financial advice.
for a while we could see bitcoin rally, recovering from bear market structure.
This is interesting as we are seeing mayor world events happening exactly when we see price action above 200 D MA.
RSI and MACD looks bearish as it shows divergence, HOWEVER looking at market as a whole (daily, weekly, monthly) we can see big investors stepping into market right now.
This kind of scenario looks as healthy accumulation after decline period.
Price moves around $220 daily and right now is between hard support and resist zones. We need to add that it is still above 10k level which is highly psychological, creating higher highs and higher lows on 6H time frames - which for me is fundamental for BTC analysis.
Bulls are trying to breach though 2019 levels - Plus Token exit scam levels. Price action will happen in upcoming days.
Big moves will consider healthy pullback after short rally - now still can go up, down to 9,7k / 8,6k levels in upcoming 1-2 mth
My potential setups are shown on chart. Treat them as my own Trade Journal, as none of my ideas can be treated as a financial advice.
This is not a financial advice.
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