Hello dear crypto friends! Grandpa BTC is at 5 figures again -Who would've thought that's possible only a couple of months ago?
Thanks to everyone, who has been sticking around during this time. I started doing my analyses last year in June during the bear market, when BTC was breaking one support after the other to the downside.
Obviously we need to see a close above $10k in the best case. If the bulls cannot manage to do that: The $10k region will be a nice top-fishing range for mean-reverting traders. In that case we can go back to retest the previous break-out zones, now turned into support. Also important in that regard: We're again overbought on the Weekly, both with BTC & LTC. That's why I preferred to play ETH on this break.
But if the bulls can manage to do that: Next important resistance, where we definitely would expect some reaction from the bears is the $11,5k-$12k region. We had build an important Double Top there on the way down:
In order to reverse the bear market, we have to break little bit higher. We haven't broken the core bearish move yet, but we're well on the way there:
All in all: CONGRATS TO THE BULLS! Grandpa BTC is back!
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my crypto analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Thanks to everyone, who has been sticking around during this time. I started doing my analyses last year in June during the bear market, when BTC was breaking one support after the other to the downside.
Obviously we need to see a close above $10k in the best case. If the bulls cannot manage to do that: The $10k region will be a nice top-fishing range for mean-reverting traders. In that case we can go back to retest the previous break-out zones, now turned into support. Also important in that regard: We're again overbought on the Weekly, both with BTC & LTC. That's why I preferred to play ETH on this break.
But if the bulls can manage to do that: Next important resistance, where we definitely would expect some reaction from the bears is the $11,5k-$12k region. We had build an important Double Top there on the way down:
In order to reverse the bear market, we have to break little bit higher. We haven't broken the core bearish move yet, but we're well on the way there:
All in all: CONGRATS TO THE BULLS! Grandpa BTC is back!
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my crypto analyses! I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
