Bitcoin hit some volatility that surprised many in the US (CST) overnight trading. With a climb up from 8900, BTC showed its stance on holding the 8800 support area by seeking out 9200 in just a couple of hours. However, in just one 15-minute span (shown by the hourly candle), BTC took a dive to exactly 8750 and rallied all the way to 9500 before settling at 9234. Keep in mind that 8750 has been a major area as a Rogue* Pivot point to the downside. This is good news considering it had a solid floor here. The uptrend is still intact from this challenge.
https://theicojournal.com/wp-content/uploads/Screen-Shot-2018-04-28-at-8.48.56-AM.png 646 1176 Rogue Trader /wp-content/uploads/logo-header.png Rogue Trader2018-04-28 10:19:582018-05-02 07:41:26Trading Crypto: **Saturday Morning: Bitcoin Battles Volatility, But Looks To Push Higher
BTC has also rallied from there, seeking out yesterday’s highs at the 9400 area which will now likely be closed above – another great sign for Bitcoin bulls as 9400 has been a rough area. Next, BTC is expected to challenge the previous highs around 9700. The question remains: Will Bitcoin blast through 9600 resistance again?
Let’s take a look at the tech specs.
BTC hourly will confirm higher highs and higher lows if the current candle shown can close above the previous highs(white line).
Stochastic pivots up and seeks volatile overbought(>80) levels
MACD is swinging wide and up
BTC 4-hour mid-term scale and BTC Daily both show bullish signs right now as well with a 4-hour pivot in stochastic and daily pivot in stochastic.
Both of these shows MACD bullish as well with daily up and widening for now, and 4-hour giving a bullish cross just recently.
BTC is currently a Buy above support close or a Hold. Downside protection should be used below support.