Bitcoin is deciding if it wants to start 2019 in a bear or bull market. Last time we saw so much consensus for a bull run, traders panicked, 6k broke and fell almost 50% in 2 weeks.... classic! Be careful, watch those very important levels of 3.8k, 3.6k and 4.4k. Even after yesterday's breakout, were still seeing very low volume indicating that the bulls may already be running out of steam. ;)
If 3.8k does not hold, bear market and a 2.8k test is very likely. If 3.8k holds in the next few days and volume increases significantly, we are confident Bitcoin is going to hit 5.2k.
Happy trading!
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As we anticipated, the bulls are nowhere to be found. ;)
Price is going down with very low volume. Approaching 618 bear fib channel retracement... Expecting Bitcoin to DROP below 6.6 in the coming days!
@Crypapi, Very nice! Got to keep a close look at that volume ;)
Crypapi
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@Bitcoin-District, Good one.
Crypapi
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@Bitcoin-District, Strongest indicator = Volume + Price action. RSI+MACD is to rip off noobs in trading, just like many other indicators.
BitMango
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@Crypapi, What is the best way to monitor volume in your opinion?
Crypapi
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@BitMango, Check @traderselite on Telegram, or Naviafra here on tradingview, follow Telegram channel it's free. Pure volume based trading with very good explaination on how to make volume analysis.
BitMango
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@Crypapi, What is the best way to monitor volume in your opinion?
Crypapi
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I have the same bullish view, that demand area you pointed out I did the same check my latests analysis. It will hold I strongly believe.