[BTC] - Short term analysis after the massive pump.

in #bitcoin3 years ago

HI All, Crypto sludge here.

With the CME quarterly bitcoin futures expiring, yesterday we saw a massive upwards price action and the price holding in the 6200$-6300$ area.

So what now? is the bear market over? It's way to early to tell. We will need to get some strong confirmations over the higher time frames, but for now, we are in a small no-trade zone on the 1H chart, but with a positive momentum.

image.png

I am personally out of the market for now, but If you are feeling lucky, we had the TD9 Buy signal, 6450$ will be the confirmation of this signal (the dotted read line) and 6250$ is your stop loss which will confirm the rejection of this TD 9 Buy.

Trade ON!

Crypto sludge.

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it is necessary to see an increasing in volume for working this analysis.

I agree, this is not a perfect situation, however i actually forgot to add the oversold stochRSI as well.

And i am personally outside, as for my style is a no-trade area, But when some clear indicators align, i usually tend to let people know, some are more aggressive :)

I am trying write about blockchain and TA like you. Could you follow and support me pls?

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Thanks for the analysis. Looking forward for the weather change.

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@cryptosludge you were flagged by a worthless gang of trolls, so, I gave you an upvote to counteract it! Enjoy!!