Hello investors 📊, traders📐 and HODLERS🔗,
#Bitcoin (BTC)
Daily time-frame:
Contrary to my last week analysis, BTC kept rising through new ATH way past the 53000 USD mark that I expected would work as a resistance. As such, the current price sits at 58,345 USD.
Since February 8th, when it established a new trend (T1), it kept going up. Since last week it found temporary support at S-3, S-2 and S-1, which might be important levels to keep on eye on for the stop-loss orders.
The S-3 (46,300) level could be especially important as it is approached by the 21 SMA. A correction to this level would mean almost 10,000 USD or 20% for BTC. Although we find it unlikely, being too close to que S-4 level, a really strong support level. If a correction of that magnitude would happen, BTC would likely go test the 41,500 USD level.
Trends:
T-1: Trend 1 - Previous ascending trend
T-2: Trend 2 - New ascending trend
Resistance:
R-1: 58,345 USD
Support:
S-1: Support - 54,000 USD
S-2: Support - 50,500 USD
S-3: Support - 46,300 USD
S-4: Support - 41,500 USD
Indicators:
SMA: 45,700
The Fear & Greed Index
As in my last week analysis, the Fear & Greed Index screams Extreme greed. So does the RSI. Although, in the momentum of a bullish year of the cycle, these indicator might seem ultra-conservtive.
The holle analysis was executed on #TradingView. Head up to TradingView to find the most user-friendly and complete chart analysis platform!
>> TradingView <<
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Disclaimer :
I am NOT a certified analyst.
This are high risks, mostly unregulated, digital assets.
This is a world of
Allways have a plan B.
You should always do your own research (DYOR)!
Invest only what you can afford to loose.
Allways have a plan C.