This Bitcoin analysis on the 18/12/2018 is going to be as simple as it get's my fellow traders.
This is a weekly chart but if you go to the daily chart we had a push to the upside for the first time in a long time ... BUT "one bullish candle a trend does not make" . We have some nice support around the $ 3000 mark, With major resistance at $ 5850.
Now on the weekly which is this chart. The bear trend is very much intact and as my mother always used to say, " Never trade against the trend Austin" so I will listen to her and keep my bearish bias and if price action doesn't produce some strong buyers into the market I will put my rep out there and say we have a major MAJOR support at $ 1200.
This is Austin Pope signing out saying a pullback is expected after such downward pressure maybe even test the resistance at $ 5 850, but if price action does not continue strongly upward and walks sideways , I don't see why $ 1 200 cannot be visited just to make the "crowd" cry one more time.
72% of Bitcoin traders are long at this moment in time.
Follow me on Instagram
@austin_powers_fx
This is a weekly chart but if you go to the daily chart we had a push to the upside for the first time in a long time ... BUT "one bullish candle a trend does not make" . We have some nice support around the $ 3000 mark, With major resistance at $ 5850.
Now on the weekly which is this chart. The bear trend is very much intact and as my mother always used to say, " Never trade against the trend Austin" so I will listen to her and keep my bearish bias and if price action doesn't produce some strong buyers into the market I will put my rep out there and say we have a major MAJOR support at $ 1200.
This is Austin Pope signing out saying a pullback is expected after such downward pressure maybe even test the resistance at $ 5 850, but if price action does not continue strongly upward and walks sideways , I don't see why $ 1 200 cannot be visited just to make the "crowd" cry one more time.
72% of Bitcoin traders are long at this moment in time.
Follow me on Instagram
@austin_powers_fx
