Technical Analysis Update, Bitcoin Down Today 10 July 2023

x3-comments (67)in #btc • 10 months ago

Hello Everybody Welcome to my blog. Today we are going to talk about the Bitcoin Down

we are seeing right now we had the weeks and the Bitcoin went to 31 500 and we said if we would like to see the Bitcoin go 30 to 34 37 37 we are calling this Ranch on a big time frame we have to have this level where we are trying to break it we have to have it as a couple now we see the rejection actually, these are the one-hour candles and this candle already just started so it's too early to predict right now if you will see the break if we gonna confirm it as our support or will we stay again as our resistance hopefully, we will break it because we also as you are waiting as me or the breaking of this blue level hopefully really that we will save the break and we will confirm as our support and we will create a new range or we will be rejected in the bottom is at the level where the bottom is at level 29 500 it's also possible I'm not saying that we will see the break right now really

I will wait and I will see I don't have a crystal ball for me it's not as simple right now to predict if the break is gonna happen right now in this candle like to go around 32k and come down to 31.5 confirmation is our support and we will continue to make new Range

I'm glad I'm happy that we try to break it so let's look at the daily candles here are the daily candles the daily candles the beautiful green one today is trying to break it so will we hopefully yes and if we will break it this yellow trend line should be our support because you know this is resistance and it looks positive that we should really break it because we try it in a row many days to break and this was the range also a year ago and in April this year my expectation as I told you that we have to hold EMA 50 is this blue one sorry the white one the white line EMA 50 and Pi cycle the orange one and the green one is 350 moving average and this orange is 111 moving the average simple moving average on the daily candles so as soon as we are going to break it I expect to come to the level between 37 and 40 levels where we saw the Bitcoin and on a big big big bigger time frame I hope that we will be in the range of 31.5 K to 37k but before Halloween as would happen also historically we should see Bitcoin because Halloween isgonna be next year we should see right now is 45.5 K my expectations myexpectation also according to the

Fibonacci retracement is that we should see before the Halloween thing April next year is Halloween that the Bitcoin would come to visit this range between 48 and 50. let's say 50 500. these are