A break up over $48,000 could potentially lead to a push to the $54,000 range testing the 200day EMA on the 1hour chart, which has been the resistance point since the 23rd of February.
Failure to close above the $48,000 range could result in another drop t the lower support at $42,000!
If you are currently on the sidelines waiting for a break above $48,000 be
before you get in would be advised. Otherwise, get ready to purchase some cheaper coins if bitcoin drops further! Win WIn
1 Hour indicators in favour of a bullish scenario
- price between $47,000 and $48,000 support/resistance zone
- Macd on 1-4 hour charts crossing over below 0 = bullish buy signal
-Volume increasing
-double bottom at $44,500
Indicators in favour of bearish scenario
- One-hour chart price is still trading below 200 days EMA
- 1-day chart MACD and MA cross indicating potential further downside
- 1-day chart trading well above the 200 days EMA could see a retest of this
I am in favour of the bullish scenario as we know what happens on a smaller time frame eventually extrapolates onto the larger time frames.
Let me know what you all think
''Buy big Sell BIGGER'' - MegaWhale
Failure to close above the $48,000 range could result in another drop t the lower support at $42,000!
If you are currently on the sidelines waiting for a break above $48,000 be
before you get in would be advised. Otherwise, get ready to purchase some cheaper coins if bitcoin drops further! Win WIn
1 Hour indicators in favour of a bullish scenario
- price between $47,000 and $48,000 support/resistance zone
- Macd on 1-4 hour charts crossing over below 0 = bullish buy signal
-Volume increasing
-double bottom at $44,500
Indicators in favour of bearish scenario
- One-hour chart price is still trading below 200 days EMA
- 1-day chart MACD and MA cross indicating potential further downside
- 1-day chart trading well above the 200 days EMA could see a retest of this
I am in favour of the bullish scenario as we know what happens on a smaller time frame eventually extrapolates onto the larger time frames.
Let me know what you all think
''Buy big Sell BIGGER'' - MegaWhale
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.