Bitcoin still have the momentum, to 4400, or 5000?
Updated
Hello Cryptocurrency Enthusiast,
Bitcoin still have the momentum, hopefully it will touch 4400, or even higher 4800?
The chart is self-explanatory. As you can see, Bitcoin is moving on an ascending wedge and a very steep rising trend line with contracting volume on Bitfinex, which means the bullish run is out of gas. While, please remember the crypto-market remains under bears control.
What will happen in the following days? We have two critical levels of resistance up ahead:
1, Target One: 4400 - 4600 . 60% probability, Bitcoin might touch this area and then reverse down.
2, Target Two: 4800 - 5000. 40% probability, Bitcoin have a slim chance to move into this strong resistance area and come down.
I will be following those TOP clues and keep you guys posted. Please follow me! ; )
Tips: How can we identify the TOP?
1, We will see enlarging trading volume on the TOP candlesstick with typical TOP Patterns.
2, Oscillator indicators might be helpful to identify TOP, such as RSI/MFL etc.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I will be going more in depth into this analysis if it receives sufficient attention.
Happy Holidays Everyone!
PainKiller.
Bitcoin still have the momentum, hopefully it will touch 4400, or even higher 4800?
The chart is self-explanatory. As you can see, Bitcoin is moving on an ascending wedge and a very steep rising trend line with contracting volume on Bitfinex, which means the bullish run is out of gas. While, please remember the crypto-market remains under bears control.
What will happen in the following days? We have two critical levels of resistance up ahead:
1, Target One: 4400 - 4600 . 60% probability, Bitcoin might touch this area and then reverse down.
2, Target Two: 4800 - 5000. 40% probability, Bitcoin have a slim chance to move into this strong resistance area and come down.
I will be following those TOP clues and keep you guys posted. Please follow me! ; )
Tips: How can we identify the TOP?
1, We will see enlarging trading volume on the TOP candlesstick with typical TOP Patterns.
2, Oscillator indicators might be helpful to identify TOP, such as RSI/MFL etc.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I will be going more in depth into this analysis if it receives sufficient attention.
Happy Holidays Everyone!
PainKiller.
Trade active
BTC is on the bullish way to 4400-4600 level as stated. Stay alert to any TOP signals. Keep you guys updated. Thanks.Happy Holidays!
Trade active
BTC has slight bullish divergence at 3700 BitMEX with typical accumulation pattern @ 1H timeframe. So I hold positive ideas that BTC remain on the bull run to retest 4400-4600 areas. Let's wait and see! Good luck guys!
Trade active
Note
The Fib-0.5 level is the key, 3686 USD the lowest level, if BTC breaks down, then this rally gets terminated and reverse down again.
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