2) #Bitcoin Weekly Chart
We have decisively broken above the weekly ribbon.. 1st time since we entered it back in November.
We have decisively broken above the weekly ribbon.. 1st time since we entered it back in November.
3) #Bitcoin Weekly Chart
On the Log Growth Chart, we have retaken the 4th line from the bottom with the Bull Market Barrier lower boundary coming in somewhere around the 58k mark.
On the Log Growth Chart, we have retaken the 4th line from the bottom with the Bull Market Barrier lower boundary coming in somewhere around the 58k mark.
4) #Bitcoin Weekly Chart
We have touched the top of the Ichimoku cloud - actually closed above it this morning (end of week) but have opened up back inside it. Bulls will want to see a clean break and close above next.
We have touched the top of the Ichimoku cloud - actually closed above it this morning (end of week) but have opened up back inside it. Bulls will want to see a clean break and close above next.
5) #Bitcoin Weekly Chart
Although it has been a very bullish week with breaks of significant resistance, we are still not out of the woods yet. The weekly trend line that was broken down has not been recovered and we also have a weekly RSI resistance. Resistance at 48.5k
Although it has been a very bullish week with breaks of significant resistance, we are still not out of the woods yet. The weekly trend line that was broken down has not been recovered and we also have a weekly RSI resistance. Resistance at 48.5k
6) #Bitcoin Weekly Chart
We have broken up out of a weekly pennant. 44.750 - 45k would be a good retest area.
We have broken up out of a weekly pennant. 44.750 - 45k would be a good retest area.
7) Are we in a bear market?
We are in category G which is as bearish as my method allows for. The fast MA is under the medium (21 week) which is under the slow (55 week)
We are in category G which is as bearish as my method allows for. The fast MA is under the medium (21 week) which is under the slow (55 week)
8) #Bitcoin Daily Chart
We have broken up and out of the daily consolidation we have been in 6th January. Again, 44750 - 45k would make a good retest area.
We have broken up and out of the daily consolidation we have been in 6th January. Again, 44750 - 45k would make a good retest area.
9) #Bitcoin Daily Chart. We continue climbing high into the rising channel with resistance just overhead. Also note the daily RSI resistance which we will approach soon.
10) #Bitcoin Daily and H4 Chart
We have broken above and are well clear of the top of the daily ribbon
We have broken above and are well clear of the top of the daily ribbon
11) My thoughts: We had a very bullish move last night with lots of volume. I still see significant resistance overhead around the 48.5k mark - the weekly trend line we broke down from as well as weekly and daily RSI resistance. Also note the retest areas I have called out.
Have a great day and trade safely... More lower Timeframe analysis to come throughout the day. If you enjoyed this #Bitcoin Morning TA report, please follow, like and retweet!
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