BTC in a bullish state till 7k

BTCUSD



BTC update 13.09.2018

After an ugly last week BTC looks to be on its way to recovering its price levels real quick.

In a quick recap of events, we saw a sharp dip to as low as $6120 levels. We predicted this in our previous update when you check the chart.

Our analysts predict that Bitcoin is on its way to $6930 in the short term.

We broke out from the symmetrical triangle as visible on the chart. The first target for the breakout would be $6700 where we have massive volume of resistance.

However we think that level will break after a quick consolidation and retracement to the 38.2 fib level around $6480. The bullish divergencies we noticed a few days ago are playing out nicely also, so after hitting our target we will need certainly to reset the indicators to be prepared for the next run up.

Currently the buyers have the upper hand in the market as a lot more short positions are going to get trapped on the way up. We warned you about this and hopefully you didn’t sell at the bottom.

The current bull run however must not distract you, we are still in a longterm bearmarket, where small rallies up are expected and not uncommon.

We are also almost two weeks away from the most important ETF decision where SEC will have to deny, reject or delay the decision to approve the CBOE ETF proposal. We must take it into consideration, because it’s a highly anticipated event and could drive a good amount of fomo into the market.

Exact targets are released in our Premium members group. Registrations are currently closed.

To join the waitlist for next batch, message @Flow in discord or @Heraclessss in Telegram.