#Bitcoin_Update : The Rise And Rise Of Bitcoin. [Critical.]
Updated
#Bitcoin_Update
As 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 we got some more volume inputs in the market.
- The circles are for denoting the strongest area's which will be giving us the next direction were Bitcoin is heading.
- 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
As 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 we got some more volume inputs in the market.
- The circles are for denoting the strongest area's which will be giving us the next direction were Bitcoin is heading.
- 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
Note
#Bitcoin_UpdateBitcoin is currently rejected by the weekly major resistance area which is at 11507 USD and showing a big dump which will likely be in a downward trend once again forming an engulfing bearish candle stick if it closes like it is trending right now.
Note
#Bitcoin_Update
As we predicted on our previous signal on Bitcoin, we are seeing an inverse H&S pattern formation is already on the way. If Bitcoin could manage to break the 11750 USD resistance area on the current or the next 2 candle sticks without a major rejection on the area, it will be a pre signal for a bullish run and if it can manage to go further and approach the next major resistance price level area between 12000 USD and 12257 USD it will be a confirmation for a bullish inverse H&S. We will give live updates further on the trade.
Stay Tuned.
@TogetherWeAccumulate
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