SkyRockSignals

BTCUSD is consolidation over?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
From our previous analysis and its updates it was clearly seen that BTC went out of the triangle and now is preparing for the next wave of growth. After it was pumped above Fib 0.786 level the price started to consolidate and now it has bounced back from the mentioned Fibonacci level which is now strong support. Nevertheless, uncertainty about BTC price movement is going to end only in the beginning of April. Till this moment there are still 2 scenarios:

1. Price continues its bounce and moves higher to the next level around $10 800
2. Volume goes down and bounce stops, the price follows Stoch RSI forecast and moves back to the triangle and decreases till its lower edge around $6 400

Conclusion: BTC will obviously grow up and reach new ATH in the long term, however in the short term the price may retest 6k level before it starts a new wave of growth
Apr 05
Comment: BTC hasn't not consolidated above $7300 resistance level from our previous analysis. There was a BB contraction and a huge sell volume . The price dramatically went down within several hours. The market is still very risky and unstable. However in the long term BTC will grow to new height, in the short term we should carefully consider each our move.

In a short period of time we expect a small decrease and retest of $7100 resistance level . It seems like it won't be broken and the price will move down again. It is still about time for market to recover and we should wait till the next wave of growth.

Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out