Hey dude, back to cryptodeeper analysis about bitcoin. We was through on October with amazing bull of bitcoin price. Make the new All time high and break the last resistance. But now we still on the consolidation area for make a momentum in the next wave. Lets talk about bitcoin trading decision.
Bitcoin's Price Falling Wedge Forming Analysis
Bitcoin's price falling wedge forming and loss of momentum may cause $60K to become resistance. Despite the $58,000 support retest and the potential of $60,000 shifting to resistance, traders appear to be at ease following a little blip in BTC futures premium.
Bitcoin (BTC) looks to lack the power to revisit the $67,000 all-time high hit on Oct. 20, prompting investors to wonder if the bullish moment has passed. Even with these obstacles, it's still too early to declare the $58,000 support level test the start of a downward channel.
The price of bitcoin looks a solid falling wedge forming in 4 hour timeframe. What you need to watch out for is that the monthly, weekly and daily closings are really bad. And monthly closing candle failed to penetrate ATH. The safer solution is to wait for the closing first. Who knows, you can get 50,000 dip before flying through ATH, right...!!! Or saved from a dump.
Bitcoin's price maybe can be breakup to all time high if the price break on the Fibonacci 0.618 area ($63.600). Because on the this Fibonacci is strong resistance. We will see very soon for the breakout movement.
See more : visit on the website
Bitcoin's Price Falling Wedge Forming Analysis
Bitcoin's price falling wedge forming and loss of momentum may cause $60K to become resistance. Despite the $58,000 support retest and the potential of $60,000 shifting to resistance, traders appear to be at ease following a little blip in BTC futures premium.
Bitcoin (BTC) looks to lack the power to revisit the $67,000 all-time high hit on Oct. 20, prompting investors to wonder if the bullish moment has passed. Even with these obstacles, it's still too early to declare the $58,000 support level test the start of a downward channel.
The price of bitcoin looks a solid falling wedge forming in 4 hour timeframe. What you need to watch out for is that the monthly, weekly and daily closings are really bad. And monthly closing candle failed to penetrate ATH. The safer solution is to wait for the closing first. Who knows, you can get 50,000 dip before flying through ATH, right...!!! Or saved from a dump.
Bitcoin's price maybe can be breakup to all time high if the price break on the Fibonacci 0.618 area ($63.600). Because on the this Fibonacci is strong resistance. We will see very soon for the breakout movement.
See more : visit on the website
