Feb is Bullish For BTC
It appears the 6 week long wedge is done.Market has broken out of the wedge to the upside, but have yet to paint any high volume green candles.
hour by hour volume is shrinking, this tell me that a big move is coming soon.
I'm thinking up, but i don't think it will be as violent at the the previous big rally from the likely bottom (3.1K)
I believe we will bounce around a channel on our way to 3.7K. Once at 3.7K I believe market might get head of itself and actually break out above resistance ("Bear Army" line)
Mid-Term, I would guess that BTC will NOT mange to stay above 3.7K resistance, and will fall back down to make a new high lower off the 200WMA some time in March-April.
Cheers!
hour by hour volume is shrinking, this tell me that a big move is coming soon.
I'm thinking up, but i don't think it will be as violent at the the previous big rally from the likely bottom (3.1K)
I believe we will bounce around a channel on our way to 3.7K. Once at 3.7K I believe market might get head of itself and actually break out above resistance ("Bear Army" line)
Mid-Term, I would guess that BTC will NOT mange to stay above 3.7K resistance, and will fall back down to make a new high lower off the 200WMA some time in March-April.
Cheers!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.