Bitcoin (BTC/USD): Morning Analysis, 2018 Last Fake Out?

Bitcoin Morning Analysis .pngBTC Update.png

BTC D.png

Daily

Looking at our highest timeframe wee price has remained above $8,300, Although this is not a major support, price seems to be holding and Stochastic RSI showing momentum is heading towards the upside. Only adding more confidence to my analysis that our drop from $9,000 to $8,300 was due to UpBit (South Korea Most Popular Exchange) being raided by the police for fraud. A daily close above $8,700 activates our trade.

BTC 4.png

4Hour

Shifting over to our pattern timeframe we see price has returned breakout support @ $8,300. A 4hour close above $8,500 activates our first trade. Stochastic RSI showing momentum is bullish. Next resistance target $9,300.

BTC H.png

Hourly

Finally looking at our trigger timeframe we price forming a double bottom inside our major support zone. Price has broke through our minor resistance @ $8,500 and closed above this level. Next entry is an hourly close above $8,700. Stochastic RSI showing momentum is bullish.

Link To Chart

Conclusion

  • Buy: After break and close above $8.700
  • Sell: NOOOOO

Comment Down below what coin you want me to do next! ;)

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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.

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