Time to not be so bullish !
at 27th nov. I wrote that BTC can visit 5500 zone, many didn't believe it at the time, well, guess what, it happened !
So many people was yelling and kicking around and trash talking when at dec. we had a little more drop (only 300$) and didn't believe that bitcoin DID hit the long time waiting trend line !!!!!!
So, What is the situation now?
Simple, we broke above a bullish triangle, right on trend line, we hit a resistance that was a very strong support zone before (6000 - 5500) and now is really stopping us from going above.
As Bill Williams says, market always finds the way with least resistance to move toward ! Yup, it's back toward our lovely support now at 4173. If we loose this support, back to the lovely (not so much) trend line again !!!!!
But from now, we can suspect a nice price consolidation at 5600 in few weeks up to a month or two until it breaks up.
And as we all know, a deep retrace, only means one thing, future powerful up trend.
So, in my opinion, the real question is :
Was the previous All Time High, really a bubble? Or is it simply a child play for future ATH ?!
===========================
If you are interested in Algorithmic Trading, Machine Learning, Trading Bots, and Artificial Intelligence, you can visit our team's Telegram Channel at :
t.me/CAB_Public
So many people was yelling and kicking around and trash talking when at dec. we had a little more drop (only 300$) and didn't believe that bitcoin DID hit the long time waiting trend line !!!!!!
So, What is the situation now?
Simple, we broke above a bullish triangle, right on trend line, we hit a resistance that was a very strong support zone before (6000 - 5500) and now is really stopping us from going above.
As Bill Williams says, market always finds the way with least resistance to move toward ! Yup, it's back toward our lovely support now at 4173. If we loose this support, back to the lovely (not so much) trend line again !!!!!
But from now, we can suspect a nice price consolidation at 5600 in few weeks up to a month or two until it breaks up.
And as we all know, a deep retrace, only means one thing, future powerful up trend.
So, in my opinion, the real question is :
Was the previous All Time High, really a bubble? Or is it simply a child play for future ATH ?!
===========================
If you are interested in Algorithmic Trading, Machine Learning, Trading Bots, and Artificial Intelligence, you can visit our team's Telegram Channel at :
t.me/CAB_Public
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