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Bitcoin H1(1 Hour) Chart Analysis – Heikin Ashi Candles, Higher Highs, Strong Support Zone
On the H1 chart, we have a bullish rally and currently, it looks like this bullish rally is about to continue. Based on the Heikin Ashi candles we can see that currently, we have strong bullish bodies in upward-moving market conditions so it basically reflects a bullish environment. In addition to this, we could see that the price which was moving higher has created higher highs based on the MACD indicator, which is a sign of gaining momentum towards the bullish side. In addition to this, currently, there are no signs opposing this bullish view. Also, we had a strong resistance zone and the price which was moving higher has broken above this zone and is holding above it. After the breakout, this strong resistance zone is acting as strong support zone for us. So based on all this, until this strong support zone shown in the image below(marked in green) holds my short-term view remains bullish here and I expect the price to move higher further after pullbacks.
Trading Tips
It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this short-term buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.
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Arvinth Akash
Home Trader Club Team
