DISCLAIMER: I am not a financial advisor nor certified analyst. All contents discussed on this blogpost are solely my own personal views and for Trading education/entertainment purposes only . Do your own research and due diligence.
With that being said, let's get it into it;
BTC 1D Timeframe.
With BTC priced at about $41,476 we've been bullish those previous days no doubt. There was a fine bullish candlestick that was formed lately which took us to were we are presently.
After a breakout from the resistance zone, I think we might just be on our way to some bearish movements for some time again. As long as we're on the crypto market, it's normal to expect some bearish movements overtime no matter how bullish it has been.
After some increase in price on BTC, I think it's time for some bearish movements after we've approached the resistance zone.
BTC 4H Timeframe
Whereas on using the 4h timeframe, we can still find a reason to say that BTC might just be going bearish due to the fact that the moving average is also about to be crossed to a bearish path.
The retest should go down to as much as $39,071 as it heads towards the support zone.
BCH 1H Timeframe
On using out the 1h Timeframe, we get even more assured of the next movement on BTC to translating into a bearish movement for some time.
We can clearly see that the BTC candlesticks have literally come to an end in the formed triangular structure in which the next breakout can be the path we move towards be it bearish or bullish.
Overall: BTC might just go on a bearish movement for some time before going bullish again.
Previous articles:
https://read.cash/@InvestorOmar/bitcoin-analysis-free-trade-analysis-crypto-to-the-moon-53-2bfe5e03
https://read.cash/@InvestorOmar/bitcoin-analysis-crypto-to-the-moon-50-ad8f5523
Until Next Time, Peace.
Good Job Mr Omar. Your efforts are appreciated.