Bitcoin - short term prediction
Hello traders,
Here is what I see currently on the charts for Bitcoin:
- We are right below another horizontal resistance here, forming a triangle pattern, which most likely will be broken to the upside;
- The weekend is also almost here, which always means manipulation and low volumes - this could lead us to a retest of the lower band of the triangle at around 40 000$, but I don't see it as much likely option;
- The most probable scenario is breakout to the upside today and a red sideways action on the weekend, acting as a retest of the horizontal resistance. There is also a small resistance box between 0.382 Fibonacci level and the triangle;
Bitcoin is currently above some very major resistances - 50MA and 100MA on the daily + 21EMA on the weekly, which is a sign of a market recovery. I would like to see a retest of the 21EMA before going up.
Take care of yourself and trade safe!
Here is what I see currently on the charts for Bitcoin:
- We are right below another horizontal resistance here, forming a triangle pattern, which most likely will be broken to the upside;
- The weekend is also almost here, which always means manipulation and low volumes - this could lead us to a retest of the lower band of the triangle at around 40 000$, but I don't see it as much likely option;
- The most probable scenario is breakout to the upside today and a red sideways action on the weekend, acting as a retest of the horizontal resistance. There is also a small resistance box between 0.382 Fibonacci level and the triangle;
Bitcoin is currently above some very major resistances - 50MA and 100MA on the daily + 21EMA on the weekly, which is a sign of a market recovery. I would like to see a retest of the 21EMA before going up.
Take care of yourself and trade safe!
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