Bitcoin fractal short term technical analysis With the recent buy candle that has brought bitcoin to the edge of the recent fractal residence point as stated in my earlier post I am now Bullish on bitcoins short term movements. My initial reaction to this news is that bitcoin will trade side ways for a few days with slight upward momentum until this resistance is broken. Once this resistance is broken the long term triangle is the last obstacle before 10k. Short term resistance points likely will be in seen at the 9200 range. The ten k resistance line will tell us if the bears of the bulls are in control. My prediction is that because bitcoin showed bullish divergence before the recent buy candle that the bulls are back in control. I will be watching for bitcoin to smash through resistance lines as long as the price remains steady as it breaches the recent fractal resistance point.
This is purely my opinion and I encourage everyone to do there own research. Trade smartly and don't over trade.
There are times to be Brave and there are times to take profits. Doing your only research is the only way to tell.
