A daily and 4hr chart analysis.
Daily
- Bearish day after a bullish rally. Huge historical resistance hit. Possible retrace to 9-10k. Major support at 10k but a retest of 150 EMA, 9500-9700, likely.
4hr
- If the Moving averages cross (Red and Green) expect trend reversal confirmation from 90% of analysts, including myself. My only concern at this point is the upper trendline.
- The last time the moving averages crossed (Golden Cross) was October 2017 and a 400% price rise.
Opening short to 9700
If we see a 9500-9700 bounce, opening long.
Daily
- Bearish day after a bullish rally. Huge historical resistance hit. Possible retrace to 9-10k. Major support at 10k but a retest of 150 EMA, 9500-9700, likely.
4hr
- If the Moving averages cross (Red and Green) expect trend reversal confirmation from 90% of analysts, including myself. My only concern at this point is the upper trendline.
- The last time the moving averages crossed (Golden Cross) was October 2017 and a 400% price rise.
Opening short to 9700
If we see a 9500-9700 bounce, opening long.
