THELOGICALINDIAN - Over the aftermost 48 hours Bitcoin amount has burst abutment at 11000 mentioned in my antecedent assay and has aback alone aback to abutment about 10100 High affairs aggregate indicates added downside over the advancing days
Bitcoin 2-Hour Price Analysis
On the 2 hour chart for XBT/USD, we can see abutment aloft $11,000 has been burst assuredly with a bright access in affairs momentum. Bears are in ascendancy of the concise amount activity as amount levels access key abutment amid $10,170, and $9,890. 50 MA and 200 EMA accept yet to cantankerous bottomward over anniversary added acceptation a animation could appear advanced consistent in a assiduity of the bullish concise trend.
Overhead attrition about $11,100 stemming from the annual aerial about $14,000 is the capital attrition point to attending out for if amount levels do advance to bounce. If this attrition point is burst amount levels will acceptable re-test the annual high.
There’s a adventitious BTC will accomplish a new lower low over the advancing canicule and weeks to put abhorrence into continued traders afore the absolute blemish of the aerial attrition mentioned. It’s acceptable $8,100 will be the lower low region. 0.5 Fibonacci akin at $9,400 is additionally a key abutment breadth to attending out for however, it’s abundant added acceptable that Bitcoin amount will actualize a lower low.
Bitcoin 30-Minute Price Analysis
On the 30 minute chart for XBT/USD, we can see the baby ascent abutment akin about $11,100 that has afresh broken. This break-down was met with bright affairs burden advertence beasts are no best in ascendancy of the concise trend.
POC has yet to move bottomward and still sits at the antecedent absurd triangle break-down point at $11,700. If this POC doesn’t move bottomward over the advancing canicule it’s more acceptable that a animation will occur.
The medium-term bitcoin amount trend is still actual abundant bullish, it’s important to not let concise bearish amount activity to billow judgment. As continued as $8,100 arena holds the accepted bazaar amount activity is alone appropriate animation in adjustment to sustain such bullish drive that took amount levels to $14,000 from the base of $3,000.
Selling drive will charge to appear to a arrest with a bright arrival of bullish aggregate for a animation to occur. Key abutment levels to attending out for during a assiduity of the concise pullback is $10,100, $9,800, $9,450, $8,800 and $8,100. If the aftermost abutment akin is burst the trend is no best bullish and will be adamantine to barometer re-entry points.
Do you anticipate Bitcoin amount will actualize a lower low over the advancing days? Please leave your thoughts in the comments below!
