BitcoinLong
#Bitcoin_Update : Where To Go Next? [Early Speculation]
Updated
#Bitcoin_Update
Bitcoin is showing a good bouncing move from its correctional low at 9651 USD. To be sure about the end of the correction we got to further see and study on the coming candle stick formations and the closing price of the daily chart. If it can hold above the 10664 USD area it would be considered as a good bull run in favor of the bulls but it needs more energy to confirm that the correction is ended at here. Other wise the other scenario that could possibly happen is that it will see a retest for the lows upto the 9.3K USD as we forecast it earlier or at least up to the lows of the current correctional low at around 9.6K USD. We will give more updates on the trading scenarios once we get more pattern indications though.
With Regards. TeamTWA.
@TogetherWeAccumulate
Bitcoin is showing a good bouncing move from its correctional low at 9651 USD. To be sure about the end of the correction we got to further see and study on the coming candle stick formations and the closing price of the daily chart. If it can hold above the 10664 USD area it would be considered as a good bull run in favor of the bulls but it needs more energy to confirm that the correction is ended at here. Other wise the other scenario that could possibly happen is that it will see a retest for the lows upto the 9.3K USD as we forecast it earlier or at least up to the lows of the current correctional low at around 9.6K USD. We will give more updates on the trading scenarios once we get more pattern indications though.
With Regards. TeamTWA.
@TogetherWeAccumulate
Note
#Bitcoin_UpdateAs we predict on our previous Bitcoin Technical Analysis idea the candle with the green circle was the one which gives a very good insight on our trade and once again it breaks out after the stated candle stick closes above the major resistance area at around 10650 USD area. For now we are looking on a bullish sign on Bitcoin trading breaking out from the falling wedge formation which was created after the correctional ABC move. We need some more indications to be fully confident on this prediction but it looks like very bullish for the short term to test once again the next levels of resistance at around 11750 USD, 12257 USD, 12965 USD and 13868 USD price ranges. But we can't say we are already on a bull run unless other wise we passed and closed above the 61.8% fib level at around 12200 USD - 12450 USD area.
- Even though the falling wedge breakout is a bullish indication we need to consider that we still needs a correction for a properly developing market. Besides the resistance levels are also might take some energy to break out by the bulls for the short run unless w
- MACD and RSI looking good for the short run on favor of the bulls.
- EMA[20] looking to stay on the bulls side but needs some more energy.
- Volume is not that much satisfactory though which might not make the trade to gain that much power.
Note that this is not a confirmed prediction on the outcome of Bitcoin and we need some more time to conclude and make a confirmed call on this trade.
-The tweet about the manipulation of Dollar by President Donald Trump seems a bullish maker though. But it still can't be considered as a very well manipulative news. Let's see the next 1 or 2 candles and additional indications and we will be at a point to confirm our positions.
@TogetherWeAccumulate
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