Bitcoin continues to consolidate just above of the $3,800 support on Coinbase. Volume remains low overall, which is a bit concerning. Price is being squeezed as the bulls and bears fight for control. I wouldn’t be surprised to see a larger move in the next 24-48 hours.
Looking at the daily chart, we see price is hovering right on top of the 21 Day EMA.
In today’s video analysis I discuss, various scenarios to prepare for, where price may be heading next and so much more. I hope you find it helpful.
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Happy Holidays all! I apologize for the lack of updates. We’re currently in the process of moving across country. This has been extremely time consuming. Between that and the holidays, I’ve not had the chance to post TA as much as usual. I hope to be back to normal near the end of January. Now on with the analysis…
Bitcoin has decisively broken back above the $3,800 resistance. While this is a welcome rise for bulls, overall volume reminds relatively low. It’s currently consolidating, trading around $3,850 on Coinbase.
In today’s video analysis I discuss, where price my go from here, traps
Merry Christmas all! Due to price dropping, I wanted to post a quick update. Yesterday I said we needed to see the daily candle close above the $4,120 resistance and the golden pocket (area between the 0.618 and 0.65 fib levels). Unfortunately, this didn’t happen. The bears we’re able to push it as low as the $3,800-$3,600 support.
Looking at the daily chart, we can see price is back below the 21 Day EMA. If the daily candle closes below this level, it might signal lower prices to follow.
In today’s video analysis I discuss where prices may be heading next, key
Bitcoin just broke above a key resistance at $4,120. It now seems to be acting as support. There’s strong resistance (supply zone) between $4,315 and $4,400.
Looking at the daily chart, we can see price approaching the 50 Day MA. It’s also hitting the top daily Bollinger band. Between the top daily Bollinger band and the $4,400 resistance, bitcoin has some work to do. A break above the 50 Day MA (on the daily chart) would be an extremely bullish sign of strength if confirmed with volume.
In today’s video analysis I discuss where price may be heading next, traps to avoid