garyreza

Are we going to see a reversal soon? 4h-Part 4 (continuation)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
We broke the 50% line of the support area . Based on the 4h chart the second target is breaking upper bond of the support area (~$6850), if we have the momentum we can break it soon, unless we will go down and test the %50 line (~$6350). As far as that 50% line holds we are good for short term.

Another possibility is that if this support area will turn out to be a consolidation area for a while, in that case we will see a huge movement after accumulation phase is over.


Remember that "The stock market is a device for transferring money from the impatient to the patient."
Best,
Garyreza (@Analytca)
Comment: BB20 hold the price and didnt let it go down to test %50 line, which can be a good thing. The upper bond of the support area acted as resistance which was predictable.
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