Currency Pair: BTC.USD Time Frame: Daily Predicted Direction: N/A
Live BTC.USD updates will be available in the comments section below.
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I just wanted to clear up a couple of questions.
Currently price is rejecting the 4hr 50EMA, should we accelerated away from this level ( to the downside ) then i see price testing $6,000 once more, if we break the 4hr 50EMA then look to the daily TF above which is the 1st resistance where price is likely to test.
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Price testing the 4hr 50EMA for the second time, a couple of hours yet until the candle closes so something to keep an eye on.
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1hr bearish RSI divergence as price runs into 4hr 50EMA resistance, downside is possible in the coming hours.
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Price has now once again rejected the 4hr 50EMA, Should price break and close below $7450 i see a short opportunity.
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Price is now testing the 1st level of resistance from the descending trendline.
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Should price break and close below $8120 i expect a second retest of $6,000
The break and close below $8120 would mean the 1hr ascending trendline, 1hr 50EMA & 4hr 50EMA would be breached aswell as forming a high-test rejection candle on the Daily timeframe confirming resistance 1.
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Perfect rejection of 1st resistance level on the Daily timeframe. Price has now broken ascending 1hr trendline as expected.
7500-7200 may be, but 6k now seems unlikely. But then any bad news can push the price lower than the previous lows, thanks to the speculative nature of this market.
Stock markets are going to take another dive on Monday most probably to complete the wave 5. There is now around 33% correlation between stocks market and crypto market.
14th February - US Congress discussion on cryptos.
15 February CFTC next senate hearing.
1-19 March - G20.
dukenewcombe
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@doctorkesh, not what I was listening to on FasyMoney yesterday... almost no correlation between BTC and stocks... not what I know, just what they said... Podcast
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UnknownUnicorn180388
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@girius7777, Great work :-)
Fiyi77
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Are we still expecting a pull back from this level? It just seems to go down a little and then keep retesting the 50EMA.
BRRD
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@Fiyi77, looks like this will end up a convincing breakthrough