This is just some simple analysis for BTC through mid-April. Take a look at the respect bears played to the major trend line in white. If I were a betting man...(I am)...I would say we have found our bottom(6k) from recent all-time high(20k) and now were are either looking to retest the major trend from July 2017 (around 7k) or preparing to start a new market cycle.
If you are bullish on BTC like I am look for one of the options above.
If you are bearish on BTC look for a breakdown of the major trend. If this happens I expect there to be a double bottom at 6k at which point bulls will regain control.
Hope you all enjoy this analysis and happy trading!
If you are bullish on BTC like I am look for one of the options above.
If you are bearish on BTC look for a breakdown of the major trend. If this happens I expect there to be a double bottom at 6k at which point bulls will regain control.
Hope you all enjoy this analysis and happy trading!
Comment:
Trend still viable as long as it gets wicked out. Pivotal area to watch.