Hello All,
Wow is all i can say at the moment, Bitcoin has really founds its legs after that bounce we saw from the most recent drop to 6100. As I has previously mentioned in my BTC 4hour analysis the close above 6400 was a major sticking point for me, if we wanted to see higher prices. We indeed held up and look at the action that followed. Now we find ourselves approaching that the upper trend line that has beaten us back down on every attempt for BTC to bust loose and make a serious move. Again as I always say we require VOLUME so far hasn't been enough for me and I'm hopeful but concerned.
BUT the time to make a choice is coming as the price of BTC is coiling at the end of this wedge. SOMETHING is going to happen!
1. We break out of the wedge and have some serious resistance levels to clear but still I will take it
OR
2. We again fail at this trend line sending us through the bottom and finally breaking 6K to way lower levels.
I will keep you guys up to date as soon and we start to decide a direction!
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
Wow is all i can say at the moment, Bitcoin has really founds its legs after that bounce we saw from the most recent drop to 6100. As I has previously mentioned in my BTC 4hour analysis the close above 6400 was a major sticking point for me, if we wanted to see higher prices. We indeed held up and look at the action that followed. Now we find ourselves approaching that the upper trend line that has beaten us back down on every attempt for BTC to bust loose and make a serious move. Again as I always say we require VOLUME so far hasn't been enough for me and I'm hopeful but concerned.
BUT the time to make a choice is coming as the price of BTC is coiling at the end of this wedge. SOMETHING is going to happen!
1. We break out of the wedge and have some serious resistance levels to clear but still I will take it
OR
2. We again fail at this trend line sending us through the bottom and finally breaking 6K to way lower levels.
I will keep you guys up to date as soon and we start to decide a direction!
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.