5k prices near?
Updated
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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