Hello everyone,
hope you are fine.
Well, it's not too soon !!
After being in jail inside the Falling Wedge during 2 weeks, after have been compress, and especially, after the recent
interview with the SEC , Bitcoin have finally success to breakout the Falling Wedge !
And now, goodbye 3200$ ? goodbye 2800$ ?
In my point of view, not at all.
It's very strange, actually, after the bounce of much than 8%, we can observe : no volume, no volatility !
We have one of the lower volatility of 2019 !
Of course, the day isn't finish and we need to wait 12 hours again.
But,it seems to be probably highly compromised to reproduce the same scenario as mi-december.
About technical point of view, we are not again in the Falling Wedge, but inside the descending channel.
Bitcoin has break the daily MA20, and seems stabilized around the MA50.
The MACD indicator is ready for bull time.
I observe carefully the RSI : if we don't succeed to break 60/70, we can expect that Bitcoin come back in 3200$ quickly.
The key resistance is 3800$. If Bitcoin break 3800$, we can expect the beginning of recovery / range.
Also, the key support is again the 3500$ area.
hope you are fine.
Well, it's not too soon !!
After being in jail inside the Falling Wedge during 2 weeks, after have been compress, and especially, after the recent
interview with the SEC , Bitcoin have finally success to breakout the Falling Wedge !
And now, goodbye 3200$ ? goodbye 2800$ ?
In my point of view, not at all.
It's very strange, actually, after the bounce of much than 8%, we can observe : no volume, no volatility !
We have one of the lower volatility of 2019 !
Of course, the day isn't finish and we need to wait 12 hours again.
But,it seems to be probably highly compromised to reproduce the same scenario as mi-december.
About technical point of view, we are not again in the Falling Wedge, but inside the descending channel.
Bitcoin has break the daily MA20, and seems stabilized around the MA50.
The MACD indicator is ready for bull time.
I observe carefully the RSI : if we don't succeed to break 60/70, we can expect that Bitcoin come back in 3200$ quickly.
The key resistance is 3800$. If Bitcoin break 3800$, we can expect the beginning of recovery / range.
Also, the key support is again the 3500$ area.
Naïm Boubziz
