Hello All,
Once again I'm taking a look at the 1 Day Bitcoin chart and in my opinion its looking pretty promising. We are officially running our of room in the wedge that has been playing out forever, and as of yet we have held tight on the trending resistance line without getting smacked back down. We have been coasting in a tight range only about $100 over the last little while and even though short positions are reaching record numbers again. Given the recent news flow and research showing that institutions are more bullish the the average retail crypto investor, we may be in the final stages of accumulation before busting out of this formation and getting the party started again. ( Well at least an sustainable uptrend ) The Bollinger Bands are extremely tight at the present time and a beak in either direction is coming, just feels a bit less ominous given the market structure that we will take the push and push ourselves up. This has been a very strong area 6000-6500 more like quicksand but we might be getting the boosters just in time for some 4th quarter power. Fingers crossed but technically it smells good to me, and fundamentally as well!
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like! as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
Once again I'm taking a look at the 1 Day Bitcoin chart and in my opinion its looking pretty promising. We are officially running our of room in the wedge that has been playing out forever, and as of yet we have held tight on the trending resistance line without getting smacked back down. We have been coasting in a tight range only about $100 over the last little while and even though short positions are reaching record numbers again. Given the recent news flow and research showing that institutions are more bullish the the average retail crypto investor, we may be in the final stages of accumulation before busting out of this formation and getting the party started again. ( Well at least an sustainable uptrend ) The Bollinger Bands are extremely tight at the present time and a beak in either direction is coming, just feels a bit less ominous given the market structure that we will take the push and push ourselves up. This has been a very strong area 6000-6500 more like quicksand but we might be getting the boosters just in time for some 4th quarter power. Fingers crossed but technically it smells good to me, and fundamentally as well!
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like! as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.