UnknownUnicorn2742699

BTC - Kissing dynamite

Long
BITFINEX:BTCUSD   Bitcoin
Hello all cryptofriends, hope you are well. To start the BTC market seems sluggish and slowly uptrending from $8800 to $9200 which is fine. BTC is in a consolidation phase between $9000-$9200 at the moment. The overhead resistance lines (red lines) are clearly forming in the diagonal and horizontal planes. A move above $9290 can explode into a push to the high$9000s, while a drop below $8800 would signal a bull reversal. My EW count has BTC in the 3rd subwave, so this is where it can get some momentum to $10k. I have the full wave count to $11k before a correction to the high $8000s. So in summary a move above the red resistance lines above $9300 is a bullish signal, while a fall below $8850 is a bearish sign. BTC is above the MA 50 and 200 and are acting as added support. The BTC daily trading volumes have also now doubled and hitting double digits. There are now multiple signs of pressure on price rising. Bullish is the conclusion.
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