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Author Topic: Bitcoin Technical Analysis - April - Week 2  (Read 57 times)
Nsync
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April 08, 2018, 02:12:39 PM
 #1

Hi,

Bitcoin price is running between the demand area around 6,800 & supply area around 7,300
It's expected that the price will continue going up to the supply area 7,300 before we can see any down movement

https://i.imgur.com/rX2WOJu.jpg

It is worth to be mentioned that we have :-
Demand Zone @ 6,600
Supply Zone @ 7,900
Supply Zone @ 8,500

- Note:-
This analysis is possible to agree or disagree with yours, so please don't depend on my analysis if it's not match with your analysis
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thefaucetrunner
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April 08, 2018, 04:32:05 PM
 #2

This is pretty solid short-term analysis I think, but I usually stick to daily charts.

BillyBobZorton
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April 08, 2018, 05:26:34 PM
 #3

This is pretty solid short-term analysis I think, but I usually stick to daily charts.

The resistance lines from my daily chart analysis show that we broke the long term line since $1800 which in theory would mean we would be going towards the $4000 range, but once again this is just TA, and many whales use the hope and expectation of trend lines being accurate, which means the price may go below a trend line but start going back up without touching the next expected resistance line.. this is how shorts get rekt and price squeezes happen, marking the end of a bear market and the start of the bull market. Personally I still see $5900 as the bottom, but we'll see about that.
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April 08, 2018, 06:01:37 PM
 #4

What do you think about this?

https://www.tradingview.com/chart/BTCUSD/87OB1Znm-Crossing-of-two-channels/
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April 08, 2018, 10:53:12 PM
 #5

This is pretty solid short-term analysis I think, but I usually stick to daily charts.

I'm also looking to the daily & weekly charts, but since the price is moving between two strong demand are around 6,400 and supply area around 11,700 on the daily so i decided to go lower to analyse the short term.
but if we talk about the long term, the uptrend will not be confirmed until the price breakout the supply zone @ 11,700
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