THELOGICALINDIAN - Over the aftermost 3 to 4 Days Bitcoin has been trading amid 10400 and 11000 afterwards the contempo blemish of the bottomward approach on the 18th of July as apparent in my antecedent assay Traders are anxiously apprehension a accommodation as BTC continues aural a bound trading range
Bitcoin Price Analysis 4 Hour Chart
On the 4 Hour chart, we can see how Bitcoin amount is developing aback the blemish point on the 18th of July. It’s no abruptness that throughout this weekend aggregate has been low, and as a aftereffect the amount activity has been trading aural a bound range. Maxx Momentum indicator, which is actual agnate to the MACD indicator, has now assuredly beyond to the upside admitting the low volume. This indicates that beasts are aback in ascendancy for now.
Monday will be an acutely important day as this is about aback aggregate rushes aback into the bazaar and alliance throughout the weekend comes to an end. This usually after-effects in a big move which sets the accent for the blow of the week. We should apprehend to see a pull-back to key abutment at $10,100 afore a assiduity of the bullish trend. There’s an apprehension of bullish assiduity due to the blemish of the bottomward channel. More advice on what to apprehend during a archetypal Monday’s trading affair can be begin here.
For now, it seems no amount what administration of how volatile/docile BTC’s amount activity is, altcoins are continuing to actualize lower lows consistent in little to no tradeable opportunities.
On the 1 Hour chart, we can see both the 50 MA and 200 EMA are affective acutely abutting to anniversary other, which has been actual aberrant throughout the aftermost few months on BTC. This is usually a able adumbration of suppression, and a big move ahead.
It’s absolutely adamantine to barometer which administration this will booty Bitcoin price. The accord and all-embracing trend are still acutely bullish until key abutment at $8,800 is burst as mentioned in the previous analysis.
Maxx Momentum is trading actual abutting to the average 0.0 band which aligns accurately with how abutting both the affective averages are trading in allegory to one another. Given this is all advance about the alternate POC at $10,500, this fills me with complete aplomb that abutting anniversary there will be a bright accommodation as to which administration BTC will be branch for the butt of July.
Do you anticipate BTC will breach $14,000 afore the end of Summer 2024? Please leave your thoughts in the comments below!
Images via Bitcoin blueprint by Tradingview, Shutterstock
