Bitcoin 1H Chart Can The Bulls Run?
1H RSI Support Zone Resistance Zone Target Price Comments
55.5 EMA 26 based support is at 58510 59100-400 Breakout on upside will open 60,500 level. Resistance is approaching caution is advised.
(Neutral to Bullish) Horizontal = 58520-58370 While breaking EMA/Horizontal support could open 58050-57800 level
1H Readings:
The Price has been moving in an upward channel and is likely to test the critical zone once more. A break would open further upside while a rejection can make it test the bottom of channel again which is resting at 58050-57800. Anyhow the ranges on either side are reaching the breakout point. Trading accordingly.
For entry consider 1-H candle closing. While Positions should not be more than 5% of investment, As Risk Reward Ratio does not allow higher positions as of now as 61600 is the area which will decide future course of bitcoin.
Bitcoin taking on 58400 range with very good volumes. Looks like we are likely to test All time high soon.
This is not Financial Advice, do your own due diligence and kick some ass this week.
55.5 EMA 26 based support is at 58510 59100-400 Breakout on upside will open 60,500 level. Resistance is approaching caution is advised.
(Neutral to Bullish) Horizontal = 58520-58370 While breaking EMA/Horizontal support could open 58050-57800 level
1H Readings:
The Price has been moving in an upward channel and is likely to test the critical zone once more. A break would open further upside while a rejection can make it test the bottom of channel again which is resting at 58050-57800. Anyhow the ranges on either side are reaching the breakout point. Trading accordingly.
For entry consider 1-H candle closing. While Positions should not be more than 5% of investment, As Risk Reward Ratio does not allow higher positions as of now as 61600 is the area which will decide future course of bitcoin.
Bitcoin taking on 58400 range with very good volumes. Looks like we are likely to test All time high soon.
This is not Financial Advice, do your own due diligence and kick some ass this week.
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