Bitcoin : In Bull Run Or Do We Still Have A Chance To Grab More?
Seeing it in a wider lens which takes almost a year duration Bitcoin has been in a long downtrend channel and was in ups and downs since that time with so many reactionary downward and upward reversals for many reasons in the market. Its seems Bitcoin is yet on another essential point to confirm its outcome in the near future. This downtrend was tested by the past week and Bitcoin saw a dump one time and a healthy pull back today. In the mean time, while this analysis was done Bitcoin is trying to breakout from this downtrend channel. Somehow the group of analysts who are saying Bitcoin is not yet in an upward trend is that its failure to breakout from this downtrend. There are two main scenario's in which we can basically forecast to happen.
Scenario 1 : Obviously the first one is it might breakout and will be bull running towards the next levels of resistances mainly at levels 9640 USD, 11614 USD, 13585 USD before a major pull back on the mid term.
Scenario 2 : The second one is more of loaded with a negative tone which might make those analysts who are still rejecting that Bitcoin is in bull run currently. The main reason for this scenario to develop can be the NVT sell signal and its high level of RSI which is swinging in the area of the overbought level.
To take the situation smartly, we believe both scenario's can be considered a good opportunities for the crypto market. If Scenario 1 takes the stage we can say after all here comes the time to see our patience working and we will see Alternate coins pumping up with Bitcoin. And if Bitcoin follows the second scenario yet we are going to be in an opportunity to grab more Bitcoin's and other digital assets so that we will even happier when it comes back again to its area of ATH and way above that point. Lets keep patient till the market got some more maturity and let us not be so excited or humiliated by just small moves. Patience is actually the key to success at this time in the crypto arena.
Keep updated with our analysis. Please do consider to drop a like if you agree with our point or to give your comments if you disagree with this post.
Besides Join our official telegram channel to get live updates on Cryptocurrency related issues and the Blockchain world @ togetherweaccumulate .
You can also contact @ cryptonatii for a very cheap but excitingly profitable VIP subscription.
Stay Tuned for more Updates.
Scenario 1 : Obviously the first one is it might breakout and will be bull running towards the next levels of resistances mainly at levels 9640 USD, 11614 USD, 13585 USD before a major pull back on the mid term.
Scenario 2 : The second one is more of loaded with a negative tone which might make those analysts who are still rejecting that Bitcoin is in bull run currently. The main reason for this scenario to develop can be the NVT sell signal and its high level of RSI which is swinging in the area of the overbought level.
To take the situation smartly, we believe both scenario's can be considered a good opportunities for the crypto market. If Scenario 1 takes the stage we can say after all here comes the time to see our patience working and we will see Alternate coins pumping up with Bitcoin. And if Bitcoin follows the second scenario yet we are going to be in an opportunity to grab more Bitcoin's and other digital assets so that we will even happier when it comes back again to its area of ATH and way above that point. Lets keep patient till the market got some more maturity and let us not be so excited or humiliated by just small moves. Patience is actually the key to success at this time in the crypto arena.
Keep updated with our analysis. Please do consider to drop a like if you agree with our point or to give your comments if you disagree with this post.
Besides Join our official telegram channel to get live updates on Cryptocurrency related issues and the Blockchain world @ togetherweaccumulate .
You can also contact @ cryptonatii for a very cheap but excitingly profitable VIP subscription.
Stay Tuned for more Updates.
