Bitcoin got stuck in a parallel channel. It has already tested support at 6200 three times. The more times support is tested the weaker it becomes. So next test can be the last. Besides I can see H&S forming on a day chart. So 6200 support is even more important as if it falls below we will see 5450 very soon.
Positive news - day stoch ad RSI are still growing. Last red candle could have been better as it is very bearish but we can disqualify it as last pump was due to one of big exchanges maintenance idle stay. One of those cases when fundamental analysis gives credit to ignore technical =) So we may be heading towards 6800 again and that would be our second test.
Positive news - day stoch ad RSI are still growing. Last red candle could have been better as it is very bearish but we can disqualify it as last pump was due to one of big exchanges maintenance idle stay. One of those cases when fundamental analysis gives credit to ignore technical =) So we may be heading towards 6800 again and that would be our second test.
Note
The wall in front of global bullish move is at 6480. Looks like not taken yet but most probably will be a next run. If, it will go through for sure.Note
BTC got through even faster. Not suprised as last months it is acting out of logical speed limits. Next resistance is at 6550 and at 6480 - support.Note
BTC is crawling like a turtle with alost no volume supporting the move. The market stands still and waiting. I thought it would be faster but 6550 appeared to be too scary resistance to get over just like this. Already got two touches and heading towards another one. Next stop 6650. And I don't want to hear about the reversal. Nobody here want it to happen as it could turn into disaster.Note
Congratulations everyone, we are going the right way. I can't see enough volume yet so it might be early to celebrate but the scatch of the painting looks good. Draw some targets for short positions.
Note
While BTC is growing take a look at weekly chart. Volume standing behind the last candle was the biggest in history. That should mean something. Something like we finally hit the bottom and the bull run is near... maybe its already hear =)Note
Note
A small update on BTC parallel channel. Epecting minor pullback to 6680-6700 before testing 6800 resistance again. That shouldn't influence alts trades too much but keep this in mind when putting buy orders and SL as you may expect all alts to go down a little.Note
Congatulations everyone. We have a breakout. Update your alts traes as they all gonna blow out.Note
It was a bull trap. Run for your life!!! )))
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Crypto reviews - t.me/WiseAnalyze
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Crypto watchlist - t.me/WiseAnalyzeDCA
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Disclaimer
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