Bitcoin | Why I'm Still Bullish On It..!!

27 בדצמ׳ 2019

BTC/USD (Update)

First of All, We're in Downtrend Since 24th June 2019 & Bitcoin is Moving inside the Descending Channel.

Now, It's Holding the Crucial Support (7.2k) & Rejecting 3D EMA10 As well since 9th November 2019.

On the Other Hand, Tested the Key Support (6600) TWO TIMES & Recovered Quickly. (That Means, Bulls Are Strong at 6400-6600 Region)

Now According to VPVR, 7k Region Became a Strong Support & 7.8k is the Strong Resistance.

In Bearish Scenario, If 6.4k Support Broken then we Might Test Another Lower Low level (5800-6200)

Now What I'm Expecting & Why I'm Bullish on Bitcoin.!!

In My Point of View, Bitcoin Has Already Bottomed out & Once We Broke 7.8k Resistance, Channel Breakout Expected in Mid January 2020..

So Accumulate Bitcoin As Much as You Can & Hold it Tight For Your Future..!!


Let's Take a Look On DAILY Chart..!!

5 Days ago, Daily EMA50 (Yellow) Rejected Again & Now EMA21 (Black) also Rejected in Daily Chart ..

Keep in Mind, EMA21 Was Acting as Strong Resistance in Last 20 Days..

We're Still in Downtrend Until Descending Channel Broken..!!

Weekly Chart..!!

Forming Bullish Flag in Weekly Chart..!





Please like, subscribe and share your ideas and charts with the community!