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A closer look in, especially at the 4 hour bars, would suggest the bears are currently firmly in control and looking for a retest of  9148. The Asian market has been pushing down just recently so wait and see.

 

BTCUSD(£)H42201.png

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seems that price is reacting to those lines, whether it 'll bounce or not I'm not sure !Capture bit.PNG

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Yes, they are certainly having a go, though with the US session closing in just over an hour they have not made much of an impression and the last 4 hour bar was well contained. The Austral-Asian traders are about to enter the market so it will be interesting to see which way they intend to push it having just seen the US bulls fail.

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Quite right, the 61.8% Fib reversal shows yet again how often Fib is being used by bitcoin traders.

 

BTCUSD(£)H4.png

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Hi ,  yes I know you were drawing attention to Fib on a larger time frame. Just reiterating Fibs use on this asset on multiple time frames. 

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one for the crypto experts on IGTV     Haha                            chart update                            Capture bounce.PNG

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I use Bollinger Bands a lot in my trading & find the  150 EMA as a good support / resistance                              Capture comments.PNG

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at time of writing looks like bitcoin can still swing either way. in my opinion $9200 is a major support/resistance for a bullish trend to occur and would not go long yet.

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I said my target short was the red zone, and that proved to be correct, in fact it bounced right of the lower trend line I had Previously set out in my charts. I have said I use the 150 EMA as support / resistance - it is currently acting as resistance. My view now is I ;m done with it, it may go either way now,  but 10k looks like major resistance  - try watching this   - 

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Agreed, the 9255 zone is a big level with confluence of the 61.8 Fib level and about to meet the 100ma but needs to get through resistance level 8595 first (prior highs).

 

BTCUSD(£)H4.png

 

 

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Bit New xx.png                                                        No way will it reach $22,000 end of Feb

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