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$4000 Temporary Short/Long Analysis

Nouvive in conjunction with Nouvive Intelligence has done an indepth analysis of Short/Long and accumulation periods of Bitcoin to find that BTC over the next several days will revisit $3518 before deciding what to do next. 

The chart above illustrates the following

  • Following the pump from $3300 to $4100, we saw Longs exchausted and eagerly taking profit in anticipation of a dump.
  • Shorts hit a double top that was last seen in September – a key area of where shorts exhaust themselves.
  • Shorts dipped seeing a key area of resistance in both October and November, this is where shorts currently lie at the moment at 36521 to 26958 longs.
  • A re-test of the support area saw Shorts dip back up, especially on the 3D Chart where $4299 is the resistance for the 15MA – a key indicator for resistance seen over the past several months.
  • Accumulation following the resistance levels with BTC being denied saw accumulation on the OBV Dip.
  • Despite all of this MACD is indication that for the first time since June, we are seeing a growth for Bitcoin.
  • This matched with RSI Stochastic illustrates there is still some ay to go for BTC, potentially to test $4678.

Nouvive Says: It is more than likely that we will see a 12.95% increase over the christmas period as traders and institutions step away from the table and algorithms step in to take over and continue the selling pressure. A re-test of the key support area for shorts illustrate that they are slowly building up 6% day on day over the past 3 days. The inability for BTC to past the 15MA is worrying for a short-term outlook.

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Information on these pages contain speculative statements that involves risks and uncertainties. Crypto-Assets profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell. Nouvive does not in any way guarantee that this information is free from mistakes, errors or material misstatements. It does also not guarantee that this information is of a timely nature. Crypto-Assets involve risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing or trading are your responsibility alone. For more information, please view the Risk Warning Below.

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ViFeed Indicators

Bitcoin (BTC)
$3665.97
49.00 RSI
-0.03%
Hold
XRP (XRP)
$0.33
38.00 RSI
-0.39%
Buy
Ethereum (ETH)
$121.64
41.00 RSI
-1.10%
Buy
Bitcoin Cash (BCH)
$128.17
49.00 RSI
-1.34%
Hold
EOS (EOS)
$2.47
40.00 RSI
-1.30%
Buy
Stellar (XLM)
$0.11
55.00 RSI
-0.75%
Hold
Tether (USDT)
$1.02
0.00 RSI
-0.24%
--
Litecoin (LTC)
$31.45
60.00 RSI
-0.55%
Hold
TRON (TRX)
$0.02
49.00 RSI
-2.92%
Hold
Bitcoin SV (BSV)
$76.27
46.00 RSI
-0.99%
Hold
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