Bitcoin On Verge Of Breakout
(Edited)
After ten days of extremely downward pressure we almost find ourselves out of the woods. The question we have to ask ourselves is:
What's first? $7000 or $9000?
Given the time of year and recent price action, I'm definitely leaning toward $9000. Of course if bitcoin breaks below support I'll be changing my tune real fast. I just don't believe that has a very good chance of happening.
I expect support to hold at $7800.
Bitcoin will be forced to breakout within the next 24 hours.
I expect to climb back up to $9000 over the next week or two.
Trade carefully.
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I think we see more up before we see a little more down, I'm still aiming for a new ATH only after the halving, but at least we are resetting all the indicators, I will only turn bullish when I see the weekly MACD crossing over and going up, if it does it's a HUGE buy signal, at the moment it's still aiming down.
Triangles paths like that tend to be very strong once they reach the apex. Of course, there is a percentage of the time that the "breakout" is really just a whimper. LOL.
Since you are convinced that the alts are still tied to BTC, those looking for the moon should be hoping for the upside. Personally, I am not sure that a bit more downside action would not be beneficial especially with BTC.
I read the Whales are accumulating. This is vital since BTC is the one token that Wall Street is amassing to some degree. A lower price might give them a chance to add more. Institutional buyers tend to add at any price.
Yeah it will be funny if Bitcoin just goes flat through resistance and holds steady.
I still believe in bitcoin but for now, im gonna be hodling it only and wont take more risks but i dont know what will do once kumex launches its bitcoin monthly futures..
Bitcoin is the goto asset to trade during a bear market.
Next bubble I'm going to launch a large retreat into it just like everyone else.
6500 is a really interesting level here, which is pretty close.
it should touch 8200 and drop down to 7800 before taking off again need to buy a little
I you did not put the graphs I would have thought it was just a wish.