Where is Bitcoin Headed to?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey, I am back with another Idea, this time looking at Bitcoin .

Bitcoin has plunged in the last days, but I was not worried at all as I knew there still a major support area in play from, where can Bitcoin bounce and continue in uptrend.

And exactly that happened.
Bitcoin is still the major player in the cryptospace and will still remain the dominant leader for quite some time.

Altcoins has plunged heavily, and I dont advice to invest into low marketcap altcoins but rather look at the top 100 coins.

Looking at the chart.

Downtrend has been broken and currently there are 2 active uptrends. Bitcoin has bounced from support area very quickly which is a strong bull move. I was expecting the price to stay in the area somehow longer, but I am more happy with this outcome!

RSI is testing resistance area and MACD has recently started a buying wave after two selling waves.

Currently can Bitcoin head to test next resistance levels or test lower uptrend if it fails to break this major resistance area at first try.

Thanks for your time and good luck trading!


2 hour update
RSI has performed ascending triangle formation and has broken out.
Uptrend still active, stable in resistance zone, good setup.
Bitcoin has broken through the resistance area and is currently in a bull flag pattern!
15min RSI has bounced of high bullish area.
Very solid outlook for Bitcoin.
Bitcoin has broken out from yesterday flag but got denied.
Support was found at the bottom of support area.
Uptrend still active.
Great channel, keep it up.
+1 Reply
TiborVrbovsky Bullandbeartrading
@Bullandbeartrading, Thanks a lot.
thank you for sharing, i'm liking the way the community is here on tradingview, i also started sharing as i have much value to give
+1 Reply
TiborVrbovsky transparent-fx
@transparent-fx, Thanks for a great comment. I will check out your forex charts.
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