Whales comes into party, Dipping Time?
Weekly Time-frame
On Friday, Whale Alerts noted a number of large transactions that were being carried out on the Coin-base platform. These transactions consisted of hundreds of millions of dollars worth of BTC being sent out of the exchange. All of these transactions, less than ten in total, came out to a total of more than $1.3 billion being moved out of the exchange in the space of a single space. -NewsBTC
This news is fairly bullish for the Bitcoin as whales are starting to accumulate again which means they will Hodl it until the distribution phase kicks in again.
1D Time-frame
We are forming an ascending triangle which breakout is bullish. We can expect this breakout in the following days. Price target is a whooping $55,000!
We have 3 bulls and 3 bears at the moment so we are expecting this breakout soon, the next pump will breakout this ascending triangle pattern. Area of support or long position is at $38,400! Resistance area is $44,100 if we don't break, expect a retest or formation of support level.
4H Time-frame
We area about to break the Cloud Senkou Span A. If we get inside then we enter a neutral phase where we can expect more to the upside. Rejection area of $41,200 where you can open short position. We are looking at double bottom which is supper bullish so we are expecting this breakout soon.
RSI is also about to cross the bullish area to.
We will discuss more on the possibility on our Live. Stay tune and check with us!
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Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
This news is fairly bullish for the Bitcoin as whales are starting to accumulate again which means they will Hodl it until the distribution phase kicks in again.
1D Time-frame
We have 3 bulls and 3 bears at the moment so we are expecting this breakout soon, the next pump will breakout this ascending triangle pattern. Area of support or long position is at $38,400! Resistance area is $44,100 if we don't break, expect a retest or formation of support level.
4H Time-frame
RSI is also about to cross the bullish area to.
We will discuss more on the possibility on our Live. Stay tune and check with us!
Want more insights before US market open? Hit Like, Share, and Subscribe for more daily trading tutorial & cryptocurrency news
Trade Scholar, the best cryptocurrency educational community online!
Find the content above difficult to understand?
Feeling lost about how to trade?
Want to learn how to do your Own Price Prediction?
We endeavour to share you our investment knowledge & experience in order to help you starting your path to financial freedom. Follow, Subscribe & Join our Community to trade together!
Disclaimer: Above Technical Analysis is pure educational information, not Investment Advice. The information provided on this post does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
