Bitcoin quick update 25Jan20, closer to a key level

25 янв. 2020 г.

hey guys welcome for a Bitcoin BTCUSD quick update

now as weekly close gets closer we need to be very cautious cuz prices are very close to a key level
as you can see the white line 21 weekly ema which is the major level to define whether prices will keep moving higher or turns back to support levels

to move higher we need close this weekly candle above 21 wema or above 8200-8250, if bulls succeed to hold the weekly level than most likely we could see a nice growth in next week, but if we failed than be prepared for 7xxx zone
all this will be decided on this week's weekly close, so better you wait patiently before making any descisions

in above chart if prices keeps moving higher than the orange zone from 9100-9600 will the major barrier for bulls and the red zone above 93xx will be much higher resistance, from here most likely prices could start to consolidate
but if prices drops than the green zone from 7800-7550 will be the very first level of support

have a look what my custom RSI is saying


my custom rsi in daily chart, leaving the red zone indicates of loss in momentum but not bearish yet


in 4h we have already moved to the green zone, indicating for higher probability of further drop in prices

thats all for now for this quick update, hope this idea will help you making profits
to join premium dm me

this is husain zabir signing out...
thankyou...