Bitcoin Today: Is THIS The Beginning Of The New Bullish Cycle? 🚀💰

[aezakmi]

Bitcoin Daily (1)

• we broke out of the ascending channel with a nice 7% candle
• the 21 day EMA (yellow) is supporting us again and a retrace towards it isn't excluded, perhaps in a couple of days, when we'll see the 21 and 55 day EMAs approaching
• we had a bullish MACD cross, but the Histogram is indicating that the bulls are running out of momentum
• RSI is back in the overbought are, with a bearish divergence

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Bitcoin Daily (2)

• we have ideal Ichimoku conditions: the price above the Tenkan & Kijun, which are above the green cloud. However, a too big gap between the TK & KJ is usually signaling an upcoming correction
• the OBV is confirming our current move: we get higher highs, which means that the bulls are still in power for now

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BTC 4h Chart

• we found support at the 0.382 & 0.236 Fibonacci retracement levels
• we're building a (almost) symmetrical triangle, which could lead to a further breakout
• notice how the 21 and 55 EMAs (yellow, blue) are supporting us most of the time

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Moving Averages

• a better look to the 21 day EMA, which acts as support since early February (green arrows)
• there will also be a 100 day - 200 day MA bullish crossover
• Volume increasing again

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Moving Averages - weekly

• after 4 attempts, we finally managed to break the 55 and 100 EMA's and
  closed our first candle above the 55 EMA, since the correction started. Notice that in 2014 the first closed candle above the 55 EMA indicated the beginning of the bullish cycle!

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Thanks for reading!

• My most used Exchanges:

  • Bitfinex - My most used exchange & Margin Trading
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  • Kucoin - Excellent exchange, rising in popularity
  • Gate - For small cap / New coins
  • Huobi - Margin trading
  • Coinexchange - Big variety of low-cap coins
  • Tokok - Here you can find NEX!

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Comments

[fel1010]

Sei nem pra.onde vai

Posted using Partiko Android

[aezakmi]

Well... Here we go:

1.618 Fib. Extension