Bitcoin analysis update

Last daily candle closed above it, which is bullish sign, but I don't like it's form. It has the long wick to the upside, which tells us about the bearish pressure.

Hello, everyone!

Bitcoin price bounced off the S2 Monthly Pivot ($44000) and is trying to break through the S1 Pivot ($50360). Last daily candle closed above it, which is bullish sign, but I don’t like it’s form. It has the long wick to the upside, which tells us about the bearish pressure.

If we take a look at the Modified Money Flow Index, we can see the bullish divergence. Moreover the whales bought this dip, as a result we can see the weak buy signal. If the current daily candle will close above the S1 Pivot, the price has the potential to grow to $53000-$54000 (CME gap).

What shall we do now? I think that the flat scenario between $45000 and $53000 is in the priority. It means that I am going to close most of my positions when the price reach $53000, and buy at the $45000 again.

Trade easy with Smart tools

Utilize AI-enhanced SmartBot for automated decisions and SmartTrade terminal for tailored manual trades, all in one integrated platform.

Similar blog posts

Skyrexio x Bybit are hosting a 30-day trading showdown. Top 30 traders take home the prize! How to Participate: 1️⃣ Register for Skyrexio x Bybit trading competition2️⃣ Trade using Skyrexio.com

Skyrexio is a leading non-custodial crypto trading platform and official broker for major exchanges announces the full integration with Crypto.com. With this partnership, Crypto.com users can now access all of

Skyrexio has integrated with Bybit to help users automate trading and simplify strategy execution across exchanges. Bybit users now have access to Alert Bots for automated TradingView alerts or custom

In this article you will learn how to combine Awesome Oscillator and Acceleration/Deceleration indicator in conjunction to have the trading zone for aggressive decisions.
Hello! Our COO Dmitry Efremov visited Token 2049 in Singapore! Here is the overview of key events there!
In this article you will learn how to use Acceleration / Deceleration indicator in your trading.