Bitcoin 4hr analysis 9/22/2020

(The red and green arrows are the Aurox Indicator and they recommend a buy or a sell. Red indicates where you should sell and green indicates a buy zone. Pretty simple indicator but rather effective if I do say so myself.)




Good morning ladies and gentlemen and welcome to my daily look into the world of Bitcoin. Today I have the 4hr pulled up after a little bearish drop yesterday. Now that the dust has settled what is coming next? Well if I had a crystal ball I could tell you exactly what would happen. But I guess we will have to settle for logic over clairvoyance. Lets take a look at what is going on today on the charts.




First of all I want to point out that we fell through the 4hr cloud. So now we are currently below the 4hr and the daily cloud. Im in the middle of stupid tropical storm Beta at the moment too so its extra cloudy for me. But being below the cloud on any time frame is considered bearish. So logic suggests that things are bearish if you only pay attention to the ichimoku cloud.




Currently the .618 fib (10250) is the closest thing to support I see on the chart currently. We have bounced from the .618 recently and it has shown some promise as a support/resistance. But I am not very confident that it can hold. Ive been wrong before but if it were to fail we are in real danger of losing 10k. I still see a good area I expect to support us in the event of a drop. The 2.5 year trend line we broke a month or so ago. The support is currently at around 9100 and descending. I know that isnt what you all want to hear but it is what it is.




If we fell below the 2.5 year descending trend line we can expect some blood in the streets. We saw the candles go from 9k to 12500 before retreating. Can we expect something similar if we drop below the trend line? Its entirely possible but only time will tell for sure. Meanwhile we need to climb back above all the lost support to bring the confidence back into the markets. But that will likely take a bit longer than the drop we experienced yesterday. This is BTC and anything can happen. So set a stop loss. Im going to try my best to stay dry. Have a great day everyone and make good choices. WTFDIK????




TLDR: Holding onto 10k by a prayer. We are below the 4hr and daily cloud. short term outlook is a bit bearish. Hopefully confidence returns to the market soon.




https://aurox.app/6sge




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COMMENT

7

Nelson Ojatta
22 Sep

Thanks for keeping us up to date on Bitcoin

The dip stll continue, it is advisable to trade don't buy for now

6 REPLY

2

Nahgeetay Stephen
22 Sep

how did you trade bro? Using 1up?

1 REPLY

7

Nelson Ojatta
22 Sep

You will need a Bitcoin

You can swap your 1Up to Bitcoin then trade

You can also trade 1Up

1 REPLY

12

Kinza Khan
22 Sep

thank you sir for your updating it is very useful for us

4 REPLY

12

Mughal Mirza
22 Sep

 so today 4 hoirs  analysis is in front of us I think Bitcoin would have again running Bull to cross 15000 in the next year and I have also seen this prediction on YouTube

4 REPLY

8

Uptrennd Master
22 Sep

Thank you sir for updating us with such a nice way... Thank you i like your hard work for our uptrendians.. Keep sharing updates with us

4 REPLY

10

Alagbe Adeniyi
22 Sep

Thanks for this information.. it's indeed needful 

4 REPLY

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