Bitcoin Technical Analysis: TESTING RESISTANCE
Bitcoin corrected to $6,295 (0.382 fib) before bouncing. It tested the $6,360 resistance, but (as of writing this update) was unable to break through.
Looking at the daily chart, we can see price is finding resistance at the 8 day EMA.
In today’s video analysis I discuss, where price may go from here, the bearish statement made by BitMex CEO Arthur Hayes, traps to avoid and MUCH more. I hope you find it helpful.
Video Analysis:
If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/@workin2005) or Steemit in order to watch.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005
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by Workin2005
Good one @workin2005,
Have you tried setting volume profile's row size to 500? I find the smaller granularity works even better (and also look better).
My view on the market: at the risk of sounding like a broken record, we're accumulating and coiling for a move up:
https://steemit.com/cryptocurrencies/@tradealert/bitcoin-and-ether-markets-quietly-accumulates
Cheers!
Thanks @tradealert. I think we've recently seen a healthy maturing of the market. I agree we'll likely see a new trend very soon. Until then, trading this range has been small, but easy money.
I've not edited the VP row size, but may give that a try. Thanks for the recommendation.