The Bitcoin has touched the key trendline in third time since December 2017.
Facts 1. There is a descending channel (blue). 2. There is an ascending channel (orange). 3. They has formed a triangle. 4. The price stucks to the upper edge of the triangle and tries to rise all this month (for the third time in two years, check out July 2019 and February 2020). 5. If you divide the triangle in half (middle_line), you'll see how the upper part (orange) is filled with the price movements and how empty the lower part (blue) is. 6. On the volume profile (vpvr indicator) you can see a volume gap between $4,000-6,000.
And what? 1. If the Bitcoin can hold above the upper edge of the triangle, this will mean a strong bullish signal. The potential is to go up to the middle of the ascending channel ($13,000-14,000), which is a gateway for a new bullish trend. 2. Typically, the price fills gaps, including volume gaps. 3. A bearish divergence (blue line) is forming on the slow MACD (but hasn't formed yet). Check out two strong bullish divergences (orange lines), which have already pushed up the price twice. 4. It's still more expected that the price drops and consolidates in the range of $5,000-7,000 (the lower part of the triangle), from where it would be much easier to break out to a new heights.
By the way It's not a good idea to make assumptions and guessing the movement. You should see possibilities. The risk to reward ratio is much better for bears than for bulls. Look for a bullish sign on slow TFs (1-3-5 days or a weekly chart) and wait for the candle closes above the current critical downtrend.
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Speaking of trends on BTC is simply a nonsense.
Even if it is the historic most profitable commodity ever seen (compared to it, the new maker bubble of late 90' was just a baby joke!) it is also the MOST VOLATILE ever seen, no underlying, no balances, fixed capitalisation, technical glitches, big power waste for mining and much more...
Hoverer, it' certainly the most incrredble scalpers playground ever seen and even more, the exchangers heaven...
If you want to start see some profits and you cannot manage a pool of expert traders covering full-time on line shifts, consider to subscribe a serious and trusted BOT!
Even if it is the historic most profitable commodity ever seen (compared to it, the new maker bubble of late 90' was just a baby joke!) it is also the MOST VOLATILE ever seen, no underlying, no balances, fixed capitalisation, technical glitches, big power waste for mining and much more...
Hoverer, it' certainly the most incrredble scalpers playground ever seen and even more, the exchangers heaven...
If you want to start see some profits and you cannot manage a pool of expert traders covering full-time on line shifts, consider to subscribe a serious and trusted BOT!