BTC: What do we need to see to confirm an uptrend?

2년 전

Through looking on the Daily time frame and reasoning with the large amount of support for BTC right now (shown in previous post), it is highly probable that BTC has hit the bottom for the short term and will move upward.

Now what do we need to see happen within BTC's price action to confirm this short term uptrend?
We have currently been seeing a series of lower lows and lower highs.
What we need to see happen is for btc to break resistance, at the sloped trend line and 7.7K and then correcting to test the 7.5K level again, which in the bullish scenario act as a support.

www.tradingview.png

As traders it is paramount to assess the likelihood of a trade from a multitude of chart time frames and perspectives.
A few charts indicating why BTC's price has bounced at this level:

Chart 1: 4H
Support from the channel
Support from the 0.786 region
Support from the peak of wave 1
www.tradingview.png

Chart 2: Daily
Volume,
Doji candlesticks
Long term trend line

www.tradingview.png

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending

nice and very informative. Just gave you an upvote and a follow up @kwabeedat

·