Bitcoin Aims at $13,900 Next, Going Higher & Higher!
Updated
Bitcoin (BTCUSD) is now aiming to challenge late June's high which is sitting at ~$13,900.
When I saw yesterday's candle, I looked back at the 24 of June and said, "If Bitcoin closes above $10,900, it will go to $12,000 tomorrow...", I am saying this because I believe we will have another full green candle tomorrow based on how the late June's candles closed.
The RSI is really bullish right now at 63.93 and the MACD is showing plenty of room left available for growth.
Volume continues moving higher, at least one big volume bar is still missing to complete run... If it goes longer, more should show up.
Everything is looking bullish right now, so expect for Bitcoin to move higher and challenge at least the high that it touched.
Moving down, support can be found at $10,600, or even $11,300 is a great support.
Where do you think that Bitcoin is headed next?
Use the comments section below...
When I saw yesterday's candle, I looked back at the 24 of June and said, "If Bitcoin closes above $10,900, it will go to $12,000 tomorrow...", I am saying this because I believe we will have another full green candle tomorrow based on how the late June's candles closed.
The RSI is really bullish right now at 63.93 and the MACD is showing plenty of room left available for growth.
Volume continues moving higher, at least one big volume bar is still missing to complete run... If it goes longer, more should show up.
Everything is looking bullish right now, so expect for Bitcoin to move higher and challenge at least the high that it touched.
Moving down, support can be found at $10,600, or even $11,300 is a great support.
Where do you think that Bitcoin is headed next?
Use the comments section below...
Note
LONGs vs SHORTs:- LONGs can grow by an additional 37% in order to hit their Feb. '19 peak.
- LONGs need to grow by as much as 50% to reach their ATH. So plenty of room left available for growth there based on past history.
- SHORTs hit a new all-time low recently on the 17th July and bounced. They can drop an additional 46% in order to challenge this same low again (double bottom).
These signals are telling us that the current trend can easily continue based on the BitFinex SHORTs vs LONGs profile.
Thanks a lot for reading.
Namaste.
Note
BTCUSD still aiming higher, our next target is sitting at $13,200.
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