Forwarded from BEST VIP CHANNELS
#Cryptobirb
#BTC_Update 1H
Bitcoin is having some volatility to take advantage on the intraday chart. A bearish engulfing candle below 16.583 will allow us a short if CVD turns negative. For longs, we need BTC to move above 16.720 and price to survive above it and we will be able to target 17.040 Major resistance level. We need more price action development in order to have a clear bias, for now is just choppiness.
vipclub_99
vipclub_99
#BTC_Update 1H
Bitcoin is having some volatility to take advantage on the intraday chart. A bearish engulfing candle below 16.583 will allow us a short if CVD turns negative. For longs, we need BTC to move above 16.720 and price to survive above it and we will be able to target 17.040 Major resistance level. We need more price action development in order to have a clear bias, for now is just choppiness.
vipclub_99
vipclub_99
Forwarded from BEST VIP CHANNELS
#Cryptobirb
#BTC_Update 1D
The daily chart of Bitcoin paints a picture of a confirmed upward breakout across several validation paths: price resistance, percentage distance traveled, volatility, and time.
The 200👇🏿👇🏿day trend represents the ex👇🏿👇🏿bear market line of reference. After a year👇🏿👇🏿long decline, the trend has finally started to ascend slightly. As it may extend flatly over the following months, the initial phase of the new bull market may prove slower price action, oscillating around the 200👇🏿👇🏿day mean.
Price action suggests that a significant resistance area can be expected around $25000 (August 2022 highs). This round number also matches the weekly resistance cluster based on moving averages.
In addition, Bitcoin is trading well above the primary trend line for the first time in over a year. It’s a strong reversal signal informing that the market has transformed internally as the demand & supply forces have turned around.
vipclub_99
vipclub_99
#BTC_Update 1D
The daily chart of Bitcoin paints a picture of a confirmed upward breakout across several validation paths: price resistance, percentage distance traveled, volatility, and time.
The 200👇🏿👇🏿day trend represents the ex👇🏿👇🏿bear market line of reference. After a year👇🏿👇🏿long decline, the trend has finally started to ascend slightly. As it may extend flatly over the following months, the initial phase of the new bull market may prove slower price action, oscillating around the 200👇🏿👇🏿day mean.
Price action suggests that a significant resistance area can be expected around $25000 (August 2022 highs). This round number also matches the weekly resistance cluster based on moving averages.
In addition, Bitcoin is trading well above the primary trend line for the first time in over a year. It’s a strong reversal signal informing that the market has transformed internally as the demand & supply forces have turned around.
vipclub_99
vipclub_99