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BTC and market update -
After completing our condition to be bullish (Weekly close above 6426), BTC pumped by almost 20% :) Good gains if followed analysis..
BTC is currently trading at 7740$
In November 2013, From 3rd November to 9th November, there were 12 Consecutive Green 12H close..
After that it is the first time to close consecutive 13 green 12H on BTC..
In that period in November 2013, price was pumped from $210 to $363 then one red 12H.. After that price dumped to $268 and then again uptrend to highs..
Today, there was 1 red 12H close after 13 Consecutive Green Close.. May be next 12H so can be red.. If closes red then we can see some retracement to further supports..
Important factors to drive BTC bullish -
1.Big CME gap till $9060 around..
2. Bitcoin Block Halving..
Also there is a small CME gap on 4H at $7600 around so price we touch that zone again before going up but failing to hold support can see more downtrend..
Bitcoin is showing good strength since 8 days..
Supports analysis -
7560-7630 weak
7290-7360 neutral
6955-7020 short term strong
Resistances analysis -
7810-7900 weak
8280-8350 neutral
8710-8800 strong short term (but if price goes to this zone then it can try to close CME gap before the retracement)
Marketcap and alts analysis will be given in next post
After completing our condition to be bullish (Weekly close above 6426), BTC pumped by almost 20% :) Good gains if followed analysis..
BTC is currently trading at 7740$
In November 2013, From 3rd November to 9th November, there were 12 Consecutive Green 12H close..
After that it is the first time to close consecutive 13 green 12H on BTC..
In that period in November 2013, price was pumped from $210 to $363 then one red 12H.. After that price dumped to $268 and then again uptrend to highs..
Today, there was 1 red 12H close after 13 Consecutive Green Close.. May be next 12H so can be red.. If closes red then we can see some retracement to further supports..
Important factors to drive BTC bullish -
1.Big CME gap till $9060 around..
2. Bitcoin Block Halving..
Also there is a small CME gap on 4H at $7600 around so price we touch that zone again before going up but failing to hold support can see more downtrend..
Bitcoin is showing good strength since 8 days..
Supports analysis -
7560-7630 weak
7290-7360 neutral
6955-7020 short term strong
Resistances analysis -
7810-7900 weak
8280-8350 neutral
8710-8800 strong short term (but if price goes to this zone then it can try to close CME gap before the retracement)
Marketcap and alts analysis will be given in next post