BTC's movement for today is bull biased due to the following reasons
1. MACD at H1 and H4 is largely open upwards.
2. Price action a few hours back might have suggested a fake pump but it went up, showing strong upward pressure.
I'm looking at current price action and if it breaks the minor resistance at 8700 level, it will go up. On the other hand, it can go down for a real downtrend as rejection was seen after reaching the fib 50% level, maybe saying current pump is just a correction. I also have to mention that weekly's MACD is open upwards.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Price action can be a lot different from this post. Please do your own research and continue to watch the price action. Have a good risk reward ratio!
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.
1. MACD at H1 and H4 is largely open upwards.
2. Price action a few hours back might have suggested a fake pump but it went up, showing strong upward pressure.
I'm looking at current price action and if it breaks the minor resistance at 8700 level, it will go up. On the other hand, it can go down for a real downtrend as rejection was seen after reaching the fib 50% level, maybe saying current pump is just a correction. I also have to mention that weekly's MACD is open upwards.
Thick yellow lines - end of range
Thin yellow lines - minor resistances
Purple arrows - possible movement/scenarios today
Price action can be a lot different from this post. Please do your own research and continue to watch the price action. Have a good risk reward ratio!
Be wary of false breaks! Trading is RISKY, always put stop losses.
TRADING IS REACTIVE, NOT PREDICTIVE.