Bitcoin Nearing The Moment of Truth Zone
So here’s what we currently got with this recent pump that occurred 48 hours ago…
- A solid bounce off the 200 day SMA
- An inverse H&S forming
- A closing approach to the major resistance we’ve had forming since 2019
WE ARE NOW APPROACHING THE “MOMENT OF TRUTH” ZONE…
>> IF we end up breaking past the $9800-$10,200 zone on the 4 hour and 1 day timeframe, we’ll start to see some of that moon boy momentum that everyone has been praying for over the last month.
>> IF price gets rejected at this zone for the 4th (and what I think final time), the bears are back in action and should expect to see some heavy drops in price as bulls are will be exhausted by then.
As for now….
Signals are looking a little bullish, but anything can happen around this “moment of truth zone”, which will most likely reveal itself in the next 48 hours or so.
Stay tuned for my updates and if you like my analysis please “like” and “follow me” for more updates as they come.
~Crypto Account Builders
- A solid bounce off the 200 day SMA
- An inverse H&S forming
- A closing approach to the major resistance we’ve had forming since 2019
WE ARE NOW APPROACHING THE “MOMENT OF TRUTH” ZONE…
>> IF we end up breaking past the $9800-$10,200 zone on the 4 hour and 1 day timeframe, we’ll start to see some of that moon boy momentum that everyone has been praying for over the last month.
>> IF price gets rejected at this zone for the 4th (and what I think final time), the bears are back in action and should expect to see some heavy drops in price as bulls are will be exhausted by then.
As for now….
Signals are looking a little bullish, but anything can happen around this “moment of truth zone”, which will most likely reveal itself in the next 48 hours or so.
Stay tuned for my updates and if you like my analysis please “like” and “follow me” for more updates as they come.
~Crypto Account Builders
Comment:
Comment:
Things are looking a little bearish at the moment with the latest bull trap we saw occur on June 1st. As of now we, have a rising wedge forming. Well most likely see a bit more consolidation and with a potential swing up to the 10.3k area before we break the wedge and start the next correction phase.
Also notice that there is prominent divergence going on within the one day timeframe.
I've notated a buy zone for for the highest potential gain off the 0.618 Fibonacci level once the rising wedge is broken.
Also notice that there is prominent divergence going on within the one day timeframe.
I've notated a buy zone for for the highest potential gain off the 0.618 Fibonacci level once the rising wedge is broken.
We're still not out of the woods yet. Give it another 24 hours to see if the break holds up on the 1 day time frame. This could still be a bull trap.
>> Moving forward, we still have a major resistance zone between 10.5 - 11k. This will really determine the strength of the bulls.
Here's my update....
Please like and follow if you enjoyed my analysis. Thank you.