Bitcoin: What's the next move?
Bitcoin manage to make a 36% move, is it time for a retrace or will we continue the uptrend?
Today's analysis will be pretty quick, i want to look at a couple of facts to figure out where we should go from here.
1. Break of the descending triangle
We broke a 7 months downtrend, and because of that break we are clearly bullish, Macd flipped and Rsi broke a big resistance aswell.
2. Rejected at 8 880
The 8 770 - 8 930 area has been a really important lever for both bulls and bears, currently this level has ben acting like a resistance. We just closed the last 3d candle right below the resistance, from my perspectives it means that we could get a correction before more upside!
3. My price projection idea
I see a possible drop around 8 240 - 8 330, afterwards it should pretty much be only upside. That's why if you are not in for the long-term i suggested to start building some orders there. Personally i bought at 6 621, added at 7 840 and will add again at 8 240 - 8 330.
After this drop my minimum target will be 9 400 and if we break it we should see 11-12k pretty soon!
Feel free to click on the link below to get re-directed to my pages!
Cheers!
Today's analysis will be pretty quick, i want to look at a couple of facts to figure out where we should go from here.
1. Break of the descending triangle
We broke a 7 months downtrend, and because of that break we are clearly bullish, Macd flipped and Rsi broke a big resistance aswell.
2. Rejected at 8 880
The 8 770 - 8 930 area has been a really important lever for both bulls and bears, currently this level has ben acting like a resistance. We just closed the last 3d candle right below the resistance, from my perspectives it means that we could get a correction before more upside!
3. My price projection idea
I see a possible drop around 8 240 - 8 330, afterwards it should pretty much be only upside. That's why if you are not in for the long-term i suggested to start building some orders there. Personally i bought at 6 621, added at 7 840 and will add again at 8 240 - 8 330.
After this drop my minimum target will be 9 400 and if we break it we should see 11-12k pretty soon!
Feel free to click on the link below to get re-directed to my pages!
Cheers!
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