BTC/USD Technical Analysis (1D): I'll try to keep it very short for you guys.In the above chart you can see BTC is currently trading around 7136 on Bitfinex. Without any bias I feel we're going to the upside. Breakout to the upside is imminent it is just the matter of when. The pink dotted line shows the long term support line which is being respected at the moment. If BTC breaks this support around 7k then the next level to watch would be around 5800 to 6000 which would be the best time to go LONG. This is unlikely to happen but you must be vigilant to the markets and even if that happens we will be very lucky.
The Yellow horizontal lines shows the targets of both the Scenarios, 1 and 2 . JUST KEEP IN MIND I AM EXPECTING A MEGA RALLY TO HAPPEN SOON. I'll keep you guys updated.
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The Yellow horizontal lines shows the targets of both the Scenarios, 1 and 2 . JUST KEEP IN MIND I AM EXPECTING A MEGA RALLY TO HAPPEN SOON. I'll keep you guys updated.
If you like my ideas do follow me on Twitter for immediate updates.
Comment:
So far so good. Bears slowly loosing the momentum, Bulls still in a bit confusion. The sideways actions shows that. More volume is needed in order to reach our specific targets.
Trade active:
We're at the threshold now. BTC needs to break and close above that resistance trendline to finally get out of the falling wedge pattern.
Rejection would take us to lower 6ks which seems to be highly unlikely to me.
I believe 10k is on the board. Let's see how it goes.
Rejection would take us to lower 6ks which seems to be highly unlikely to me.
I believe 10k is on the board. Let's see how it goes.
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