Bitcoin 1D Update
Bullish Points:
- Bitcoin painted a higher high on the 9th day.
- Bitcoin did wick above $8,200.
- Higher lows for the past 3 days.
Bearish Points:
- Although it wicked above the $8,200, it failed to close above $8,200. It has not yet attempted $8,400.
- Squeeze indicator still favoring bears.
- 5 Day Volume Moving average at ~8k, with the 2 30K+ bars being selloffs.
- Keltner Channel lower band and EVWMA (20D) are both heading flat.
If we do see a high volume drop, I believe it will dump to at least $7,400 - $7,500. If we do not see a high volume drop, we may continue grinding and potentially build momentum for a move up.
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- Bitcoin painted a higher high on the 9th day.
- Bitcoin did wick above $8,200.
- Higher lows for the past 3 days.
Bearish Points:
- Although it wicked above the $8,200, it failed to close above $8,200. It has not yet attempted $8,400.
- Squeeze indicator still favoring bears.
- 5 Day Volume Moving average at ~8k, with the 2 30K+ bars being selloffs.
- Keltner Channel lower band and EVWMA (20D) are both heading flat.
If we do see a high volume drop, I believe it will dump to at least $7,400 - $7,500. If we do not see a high volume drop, we may continue grinding and potentially build momentum for a move up.
Like and follow for more!
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