Short Term Case For Bitcoin
Updated
Here I've Layed Out My Ideas On What Is Likley To Happen Over The Coming Days, This Is A Short Term Perspective.
We Can See A Wedge Forming Outlined In Blue, The Arrows In Black Demonstrate What Is Likely From A Bullish Perspective And The Red Arrows Is What Is Likely To Happen If We Have A Pullback And Possible Support Areas Where We Could See Nice Support.
A Small Pullback Is Most Likely Since BTC Has Been On a Slow Move up And The Volume Hasn't Convinced Me That We Are Going To Keep Going Up From Here.
We Could Go Sideways For A Few Days or Go Up From Here, My Bias Is That The Bulls Are Slightly More In Control At This Point.
I Would Void All These Cases If BTC Was To Break Down Below 6500 But I Favour 65/35% That We Will See Between 8-9K Soon
This Is Not Financial Advice & Just My Opinion Only For Educational Purposes
We Can See A Wedge Forming Outlined In Blue, The Arrows In Black Demonstrate What Is Likely From A Bullish Perspective And The Red Arrows Is What Is Likely To Happen If We Have A Pullback And Possible Support Areas Where We Could See Nice Support.
A Small Pullback Is Most Likely Since BTC Has Been On a Slow Move up And The Volume Hasn't Convinced Me That We Are Going To Keep Going Up From Here.
We Could Go Sideways For A Few Days or Go Up From Here, My Bias Is That The Bulls Are Slightly More In Control At This Point.
I Would Void All These Cases If BTC Was To Break Down Below 6500 But I Favour 65/35% That We Will See Between 8-9K Soon
This Is Not Financial Advice & Just My Opinion Only For Educational Purposes
Note
The Volume Is Not Enough To Convince Me of A Small Dip Then Back Up To The High 7k area, Most Likley We Will Need To Retest The 7k Area, Which Puts More Downwards Pressure on The Price, However I Will Look For A Bounce In That Area And If We Go Oversold On The RSI & If The Volume Lifts Would Consider Entering A Small Sized Trade With Stops Tightly Below.
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