BTCUSD 4/24/2021 : Short Term and Long Term
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
________
Good day Guys! I make some updates on my Technical Analysis dated February 5, 2021 and this TA is the update.
Right now, Bitcoin is on a pullback on the weekly timeframe. It does not mean that Bitcoin is now on a bear market because it's just a pullback into important Moving Averages or Fibonacci Levels. Still, I believe a very bullish year for Bitcoin.
_________
Monthly
The rally started on October 2020 and most likely to end this month of April 2021. As you can see in the chart, Bitcoin made 6 bullish candles in this current rally. Most likely institutions are now taking some profits. The Price of Bitcoin is very far from EMA 9 for at least 5 months now. Most likely a pullback to EMA 9 in Monthly Timeframe is reasonable. I think, it's a good buy for long term. If you look at the RSI of Bitcoin for past 10 years, I notice something interesting. Take a look at those small yellow boxes. If RSI bounce to 70 Level, more likely in the next month to come a great price appreciation. For Stoch RSI, as long as it stay above 80 level, still looks bullish in the long term. MACD still looks good. I think these current selloff is a pullback to important levels.
s3.tradingview.com/snapshots/a/a2qmNOlD.png
Weekly
In the chart, you can see the important support levels that I mentioned in Monthly Timeframe.
s3.tradingview.com/snapshots/x/xrxkwTxd.png
The Weekly Timeframe had some sort of trend reversal for the short term.
1. Struggles to break the resistance above $ 61,700.00 for the past 6 weeks;
2. Broken the support at $ 55,160.25;
3. As of the moment trying to make a weekly closed below EMA 9;
4. RSI 70 Level is now broken;
5. Stoch RSI is extremely oversold; and
6. MACD finally has a bearish crossover to be confirm next week.
So, Most likely the price to go down. Other explanation is in the chart.
s3.tradingview.com/snapshots/y/YUWBFxps.png
Daily
I think these may take 2 weeks to 1 month to recover. Other Explanation is in the chart.
s3.tradingview.com/snapshots/e/elxOl7nK.png
s3.tradingview.com/snapshots/i/IWY17pPc.png
Four Hour to 15 Minutes
In this Separate Technical Analysis.
______
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
________
Good day Guys! I make some updates on my Technical Analysis dated February 5, 2021 and this TA is the update.
Right now, Bitcoin is on a pullback on the weekly timeframe. It does not mean that Bitcoin is now on a bear market because it's just a pullback into important Moving Averages or Fibonacci Levels. Still, I believe a very bullish year for Bitcoin.
_________
Monthly
The rally started on October 2020 and most likely to end this month of April 2021. As you can see in the chart, Bitcoin made 6 bullish candles in this current rally. Most likely institutions are now taking some profits. The Price of Bitcoin is very far from EMA 9 for at least 5 months now. Most likely a pullback to EMA 9 in Monthly Timeframe is reasonable. I think, it's a good buy for long term. If you look at the RSI of Bitcoin for past 10 years, I notice something interesting. Take a look at those small yellow boxes. If RSI bounce to 70 Level, more likely in the next month to come a great price appreciation. For Stoch RSI, as long as it stay above 80 level, still looks bullish in the long term. MACD still looks good. I think these current selloff is a pullback to important levels.
s3.tradingview.com/snapshots/a/a2qmNOlD.png
Weekly
In the chart, you can see the important support levels that I mentioned in Monthly Timeframe.
s3.tradingview.com/snapshots/x/xrxkwTxd.png
The Weekly Timeframe had some sort of trend reversal for the short term.
1. Struggles to break the resistance above $ 61,700.00 for the past 6 weeks;
2. Broken the support at $ 55,160.25;
3. As of the moment trying to make a weekly closed below EMA 9;
4. RSI 70 Level is now broken;
5. Stoch RSI is extremely oversold; and
6. MACD finally has a bearish crossover to be confirm next week.
So, Most likely the price to go down. Other explanation is in the chart.
s3.tradingview.com/snapshots/y/YUWBFxps.png
Daily
I think these may take 2 weeks to 1 month to recover. Other Explanation is in the chart.
s3.tradingview.com/snapshots/e/elxOl7nK.png
s3.tradingview.com/snapshots/i/IWY17pPc.png
Four Hour to 15 Minutes
In this Separate Technical Analysis.
______
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.