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Bitcoin analysis
We rejected the a ichimoku cloud resistance here, trading below the 50/20 day EMA's on the 12h chart, not in any margin position currently 6.2k blast and hit a high of $6.4, If Daily candle will close above $6.4k then a bullish engulfing pattern will complete in Daily chart.
The bitcoin daily close is pointing to a possible reversal in recent trend, although if I was a MM I'd want to run the stops above local highs before moving lower.
MACD about to make a crossover. We could expect a movement to $7000 before testing support again.I think A big move is coming soon in one direction or the other on the weekly chart.
Bitcoin either needs to break $7,400 to see major upside. Or losing $5,900 then $5,777 would keep this market bearish.BTC does make a higher high and I will wait for a retest before taking a long position. The next major resistance is at $6.7k - $6.8k.
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Disclaimer: invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses.
