CryptoKraze Technical Analysis
In this post I am going to cover technical analysis of Bitcoin for next movement. I am using tradingview charts and price linked to Bittrex exchange. Let's have a look on technical aspects of Bitcoin.
Possibility on 4 Hour Chart
If you look at 4 hour chart, you will see Bitcoin has formed a bullish engulfing candle that is a sign of trend reversal. The next candle has come down to half of that bullish candle and now it will move up because profit taking is done. If we look at RSI then a shark fin pattern has formed as well that is sign of trend reversal. This previous 4 hour candle has shown a good bounce with good volume that was needed to break the downtrend in market.
- Bullish Engulfing and Shark Fin are sign of reversal.
- Good Volume spike has shown that whale are now buyings.
- Need a Dogi candle to close on Daily Chart for this bullish move continuation
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Disclaimer
Crypto Trading is risky business and you can loss partial or full amount of money. Trade at your own risk with that money only you can afford to lose. Bitcoin unexpected move will make this analysis void.
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