Bitcoin Update 10-10-19
Good morning Altsignals Members, welcome to our technical analisys section again.
Lets talk about #Bitcoin on the 4H Timeframe.
Yesterday we experience a clear breakout of the parallel resitance on the 4H chart wich ride us to the previus support zone, turned now to resistance, between $8547 - $8805, so, we need to start closing candles above the $8547 level to continue moving up to $8805 and then take the next important resistance level around $9813.
At the moment the sellers are pushing down into the drawed parallel channel wich could work as Bull Flag to continue the bullish escenario.
$8103 is the most important support level to wacht, also if we break the parallel price range displayed on the chart we will go to this support level, so, could be used as a confirmation for a scalp short position, or long if we break upside.
CFTC chair says ETH is a commodity and anticipates derivatives to trade in the U.S. soon - Fundamentals on ETH are strong right now, a bullish #2 coin can impulse bitcoin creating FOMO in the crypto market on BitMex.
Other good sign to have in mind is a couple of big transaction wich were getting moved since yesterday on USDT up to 10M - This could means Instutional investors preparing funds to buy
Lets talk about #Bitcoin on the 4H Timeframe.
Yesterday we experience a clear breakout of the parallel resitance on the 4H chart wich ride us to the previus support zone, turned now to resistance, between $8547 - $8805, so, we need to start closing candles above the $8547 level to continue moving up to $8805 and then take the next important resistance level around $9813.
At the moment the sellers are pushing down into the drawed parallel channel wich could work as Bull Flag to continue the bullish escenario.
$8103 is the most important support level to wacht, also if we break the parallel price range displayed on the chart we will go to this support level, so, could be used as a confirmation for a scalp short position, or long if we break upside.
CFTC chair says ETH is a commodity and anticipates derivatives to trade in the U.S. soon - Fundamentals on ETH are strong right now, a bullish #2 coin can impulse bitcoin creating FOMO in the crypto market on BitMex.
Other good sign to have in mind is a couple of big transaction wich were getting moved since yesterday on USDT up to 10M - This could means Instutional investors preparing funds to buy
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