BTC upside?
Updated
Hello there from Noob Central
So far BTC is following the inverted H&S. It is above both the 25 EMA and 50 EMA. It has hit a little bit of resistance now at the $6930 mark and I feel has to break the $7000 mark to move on. But, there is a lot of resistance on the way up. It certainly looks to me as if BTC is breaking the bear cycle and becoming more bullish. Once it closes above the 100 EMA things will look better for it to challenge the $8000 barrier. From there, there is a higher probability of the bulls taking over.
However, BTC can still head south and break the H&S pattern. But there is some decent support lines to contend with.
So far BTC is following the inverted H&S. It is above both the 25 EMA and 50 EMA. It has hit a little bit of resistance now at the $6930 mark and I feel has to break the $7000 mark to move on. But, there is a lot of resistance on the way up. It certainly looks to me as if BTC is breaking the bear cycle and becoming more bullish. Once it closes above the 100 EMA things will look better for it to challenge the $8000 barrier. From there, there is a higher probability of the bulls taking over.
However, BTC can still head south and break the H&S pattern. But there is some decent support lines to contend with.
Note
Ok, so being the noob I am, I am not sure how to actually add a bloody chart here. But look at BTC on the USD chart at 1 hour. See the volumn?Now look at BTC on the Korean chart at the same time scale. Notice something?
Massive manipulation much?
I will try post a proper update shortly
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