nLucic

BTC Possible Short Term Uptrend

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey guys, just an update it appears we hit a double bottom at the trend line between $5800-$6100. Double bottom generally indicates a reversal and it appears volume has picked up and an uptrend has begun. Be aware that the previous high was $9400 and a break above that would indicate we are out of the downtrend channel in the short term. If we break look for BTC             to go anywhere from $10-$18K. My target will be $11K.

Be mindful that the weekly and monthly charts show we still have a long ways to go and that after this rise another potential fall awaits us. It shows that overall the market has a ways to go before we see anywhere close to $20K again. However, we should not see BTC             fall below $6K again if an uptrend is confirmed here, although anything is possible in cryptoland lol.

Thanks!

As always I am not a financial adviser and this is not financial advice but educational in nature.
I see it going down to $5k before we reverse to $15k
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nLucic Kryptokraze
@Kryptokraze, it’s possible. Right now there’s a ton of volume and the price is rising. If we break the $9400 resistance then I’d say $5K is off the table for a long time because we should enter an uptrend channel. If we fail to break it then that confirms further downtrend and we may see it. Only time will tell!
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