BITCOIN: possible REVERSAL! Back to 13K? HERE IS WHY!
This could be a great trade.
4H timeframe XBTUSD
As you can see from the chart, there is confluence of some technical factors which made me think about a possible reversal back to (at least) 13K.
-RSI trendline is holding well
-HAMMER CANDLE followed by a DRAGONFLY DOJI CANDLE (both are strong reversal candles if seen at the bottom of a downtrend)
-Perfect bounce from 78.6 FIB level that could indicate a reversal signal
-Daily EMA bounce
Beyond technical analysis: it seems that BTC dominance still want to rise and in order to do that BTC needs to go to higher levels.
If you have any questions feel free to ask!
Hope you enjoyed this quick BTC analysis. ;)
(Last analysis played out really well, hope to make some gains again!)
4H timeframe XBTUSD
As you can see from the chart, there is confluence of some technical factors which made me think about a possible reversal back to (at least) 13K.
-RSI trendline is holding well
-HAMMER CANDLE followed by a DRAGONFLY DOJI CANDLE (both are strong reversal candles if seen at the bottom of a downtrend)
-Perfect bounce from 78.6 FIB level that could indicate a reversal signal
-Daily EMA bounce
Beyond technical analysis: it seems that BTC dominance still want to rise and in order to do that BTC needs to go to higher levels.
If you have any questions feel free to ask!
Hope you enjoyed this quick BTC analysis. ;)
(Last analysis played out really well, hope to make some gains again!)
