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Bitcoin Daily Trading - Technical Analysis BTC/USDT - 16 Jan 2020

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16 Jan 2020 - Daily Technical analysis for BTC/USD 

BTCUSDT spent yesterday wandering around the area below 8900

Could not break 9000 or 8550

Some points for today:

- Main trend of BTCUSDT in 4H is still increasing

 

 

16 Jan 2020 - Daily Technical analysis for BTC/USD 

 

BTCUSDT spent yesterday wandering around the area below 8900

Could not break 9000 or 8550

Some points for today:

- Main trend of BTCUSDT in 4H is still increasing

- Trend structure consisting of ascending peaks and bottoms.

- The bullish channel still maintained

- Past week: price increase from 7670 to 8900 and BTCUSDT has not had a significant recovery, correction or pullback.

- At this point, BTCUSDT easy to fall into an overbought state, possibility of further price adjustment.

- An overbought sign with RSI 14 (4H) 

WAIT to see if BTC can break 9000, this is not time to sell, main stream is still up. Round number 9000 and some profit taking may dominate a bit.

WAIT to see if BTC have a correction to 8500, 8100, 7700 and buy when having rising setup. 

 

 

 

16 Jan 2020 - Daily Technical analysis for BTC/USD 

Part 2 

A correction phase is necessary for BTC

Because the recent wave has gone quite well and quite far.

A healthy correction will come to the crypto market

Do not FOMO and expect peaks the rally to continue.

Adjustments are the necessary to make trends are more sustainable

Again, do NOT buy BTC yet now (FOMO) 

The correction phase is shown by a bearish pin bar candle at the top of the upside wave

That simple pin bar signal shows correction to come.

Adjustment from just one candle is OK after a rising period. 

VOLUME

When the volume increases, the price increases

When the price adjustment decreases, volume decreases.

It is good for a sustainable uptrend. 

WAIT to buy

Wait for the correction to take place, then buying up at supports, after a setup for price increases

Target higher than the previous peak, if the uptrend will continue.

 

 

 

 

 

 

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BTC/USDT,

BTC/USD,

Daily,

Technical,

Analysis,

4H,

Bitcoin daily trading tips,

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BTCUSD daily trading,

BTCUSDT daily trading,

 

 

Good Luck and Success !

 

 

 

 

 

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