5k prices near?
will bitcoin bulls be able to break the ever so heavy resistance at 4.3k ?
Let's find out!
bullish?
- we have a bull cross on the 20 EMA
- resistance at 4.3k has been tested 5 times now, every attempt bears get weaker.
- we are near completion of a clear bullish pattern called inverted head and shoulders.
bearish?
- bears still have the last line of defense at 4.3k, it's been proven to be a heavy resistance.
- 4.3k is also the neckline of the IHS
I think we will see a completion of the inverted head and shoulders, a breakout to 4.5k then retest of neckline at 4.3k and up for a final push to the 200 EMA at around 5k.
So to summarise it all, yes I THINK that we will see 5k prices in the coming month
Let's find out!
bullish?
- we have a bull cross on the 20 EMA
- resistance at 4.3k has been tested 5 times now, every attempt bears get weaker.
- we are near completion of a clear bullish pattern called inverted head and shoulders.
bearish?
- bears still have the last line of defense at 4.3k, it's been proven to be a heavy resistance.
- 4.3k is also the neckline of the IHS
I think we will see a completion of the inverted head and shoulders, a breakout to 4.5k then retest of neckline at 4.3k and up for a final push to the 200 EMA at around 5k.
So to summarise it all, yes I THINK that we will see 5k prices in the coming month
Note
target reached:)Note
please remember that we could likely retest the neckline at 4300$, so don't get all FOMO'd
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.