Bitcoin is preparing for another move up!
Updated
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In previous idea I have predicted Bitcoin to go up, that was right, and I also mentioned 10060 as a crucial level that Bitcoin needs to pass to become really bullish again and that has also happened, price passed this level. Bulls have succeeded even more and broke 10140 level as well and holding price above it so we can count 10060 - 10140 zone as a support now.
There were few attempts to break 10300 which is normal because level is strong, each time price has made a retracement to the mentioned support to consolidate before another try to go up. Thinks the most possible scenario is a 6-48 hours accumulation in current trading range, market needs that for another try to break 10300.
After consolidation I expect a move up towards 10400-10500 zone, but thats a minimum. Think price can finally break 10500 level, go up a bit more and turn this 10500-600 zone into support.
Dayly chart is bullish as well by the way, yesterday price has formed nice reversal dayly candle and a Golden Cross.
I will post new updates of this idea if anything important happens.
In previous idea I have predicted Bitcoin to go up, that was right, and I also mentioned 10060 as a crucial level that Bitcoin needs to pass to become really bullish again and that has also happened, price passed this level. Bulls have succeeded even more and broke 10140 level as well and holding price above it so we can count 10060 - 10140 zone as a support now.
There were few attempts to break 10300 which is normal because level is strong, each time price has made a retracement to the mentioned support to consolidate before another try to go up. Thinks the most possible scenario is a 6-48 hours accumulation in current trading range, market needs that for another try to break 10300.
After consolidation I expect a move up towards 10400-10500 zone, but thats a minimum. Think price can finally break 10500 level, go up a bit more and turn this 10500-600 zone into support.
Dayly chart is bullish as well by the way, yesterday price has formed nice reversal dayly candle and a Golden Cross.
I will post new updates of this idea if anything important happens.
Trade closed manually
As I said I expected a consolidation above 10100 for 6-48 hours to be confident in next move up. Well this didnt happen and bulls failed to hold support. Notice idea name is NOT bitcoin goes up, BUT bitcoin is PREPARING to go up. This preparation failed so I didnt open long.
Going to post new analysis soon.
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