Bitcoin Target $10,500

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Currency Pair: BTC.USD
Time Frame: Daily, 4hr, 1hr & 5min
Predicted Direction: Long

Live BTC.USD updates will be available in the comments section below.

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Price running into 1hr 50EMA a break and close above this should confirm the short term trend change.

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On the 1hr TF price is forming a HL should it break above $9200 which would confirm a short term reversal.

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4hr & Daily structure levels you should be aware of prior to a trading opportunity.

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Currently there is no signs of a reversal as price rejected the 1hr 50EMA, until there is a break i would be cautious about long opportunities.

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Price has just closed above the 1hr 50EMA, expect more upside.

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Bitcoin Thoughts:
Predicting short term price action is not to difficult with a brief understanding of human psychology, however predicting the larger moves becomes a little more difficult as we have very little historical data to draw any significant S & R levels, i would advise keeping that in mind prior to shooting for large excessive targets.

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Buyers flooding in as 10k back in sight, although my initial eyes are on $10.5 keep a look out for any resistance and indecision if / when price approaches 10k

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We have now seen the break i do now expect the retest of the 1h 50EMA in the coming hours.

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1hr 50EMA & 38.20% is expected prior to a push higher.

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Break & retest of 1hr 50EMA confirmed, however the next minor resistance that is the 4hr 50EMA, should this break i see now strong resistance on the way to 10.5k

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تم إغلاق الصفقة يدويًا

Price failed to break and close above 4hr 50EMA

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I hope everyone managed to close prior to the pullback, for me i'm sitting back waiting for price to provide us the next opportunity.