Bitcoin breakout or fake out?
Updated
Let's go through today's bitcoin analysis.
Today I follow 12h to try to draw a slightly larger picture of what we are now seeing.
Bitcoin trades today about 3% over 200sma, which it has not done since September 2018.
4 times before, it has been traded over 200sma under the bear market, every single time bitcoin have failed to break out of the falling wedge pattern. Lets hope it can now :wink:
As it looks now, btc need to really break through the dotted resistance line from the bearflag formation and resistance line on ish 4130-4150, a test of 4450 arena
would have been healthy.
#Nelling again on 4k if losing support,
#New key arena to watch 3850$
#Panic support 3500$
Today I follow 12h to try to draw a slightly larger picture of what we are now seeing.
Bitcoin trades today about 3% over 200sma, which it has not done since September 2018.
4 times before, it has been traded over 200sma under the bear market, every single time bitcoin have failed to break out of the falling wedge pattern. Lets hope it can now :wink:
As it looks now, btc need to really break through the dotted resistance line from the bearflag formation and resistance line on ish 4130-4150, a test of 4450 arena
would have been healthy.
#Nelling again on 4k if losing support,
#New key arena to watch 3850$
#Panic support 3500$
Trade active
congratulations bulls :)
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