BTC Going down or Breakout??!!! UPDATE
Hi Folks,
As Bitcoin is still the main currency in the crypto and the most dominant it really pays of to watch in to the charts daily..
Because when the Whale eats the little fish eat to (Altcoins)...
In the 4 hour chart we see Bitcoin coming to a nice resistance level.. Watch how the Bitcoin has rallied earlier resistance and support levels.. That is nice..
On 23 July we see a Hammer followed by a Long Maribozu White Candle.. That is extreme Bullish!
As I have learned from master Steve Nison is that after a Bullish Engulfing pattern the long white candle becomes support..
As you can see it on the head/middle and the low of the Maribozu white candle..
You see the support levels if the price doesn't break through resistance... If it breaks through resistance we are clear to hitting the 35K again..
Thereby the RSI is at an overbought situation.. That is to be cautious but if an asset is in an strong uptrend.. the oscillator can be overbought for quite some time..
I personally expect price to fall back to support level 1 to gain momentum again and try to fight resistance level...
As Bitcoin is still the main currency in the crypto and the most dominant it really pays of to watch in to the charts daily..
Because when the Whale eats the little fish eat to (Altcoins)...
In the 4 hour chart we see Bitcoin coming to a nice resistance level.. Watch how the Bitcoin has rallied earlier resistance and support levels.. That is nice..
On 23 July we see a Hammer followed by a Long Maribozu White Candle.. That is extreme Bullish!
As I have learned from master Steve Nison is that after a Bullish Engulfing pattern the long white candle becomes support..
As you can see it on the head/middle and the low of the Maribozu white candle..
You see the support levels if the price doesn't break through resistance... If it breaks through resistance we are clear to hitting the 35K again..
Thereby the RSI is at an overbought situation.. That is to be cautious but if an asset is in an strong uptrend.. the oscillator can be overbought for quite some time..
I personally expect price to fall back to support level 1 to gain momentum again and try to fight resistance level...
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