Is this the end of bear market? Let's analyze:
Technical Analysis:
1. Resistance - Bitcoin is facing a lot of resistance at 10,800 USD level and it needs to be crossed with a very good volume to continue up trend. Bullish? - YES (if crosses 10,800 USD)
2. Elliott Wave - Elliott corrective wave (b) -> (c) is predicted to be be started and if it continues then we might see bitcoin to 16,000 USD by March mid. Also, if we have incorrectly predicted Elliott waves and the wave -> (2) to (3) is created from 17,252 (on 6th Jan 2018) to 6,000 USD low (06th Feb 2018) then we have one more eliot wave to be formed and we might see levels below 6k USD. Bullish? - CAN'T SAY
Overall, I believe the bear market has ended and the smart money is following in the market with very high volume which should drive the price UP. But you never know what surprise is BTC planning for you. Good Luck!
Technical Analysis:
1. Resistance - Bitcoin is facing a lot of resistance at 10,800 USD level and it needs to be crossed with a very good volume to continue up trend. Bullish? - YES (if crosses 10,800 USD)
2. Elliott Wave - Elliott corrective wave (b) -> (c) is predicted to be be started and if it continues then we might see bitcoin to 16,000 USD by March mid. Also, if we have incorrectly predicted Elliott waves and the wave -> (2) to (3) is created from 17,252 (on 6th Jan 2018) to 6,000 USD low (06th Feb 2018) then we have one more eliot wave to be formed and we might see levels below 6k USD. Bullish? - CAN'T SAY
Overall, I believe the bear market has ended and the smart money is following in the market with very high volume which should drive the price UP. But you never know what surprise is BTC planning for you. Good Luck!
Comment:
Bitcoin trying hard to break 10,800 USD level. Crucial hours for Bitcoin.
Comment:
10,800 USD Resistance level rejected.
Comment:
Strong resistance at 10,700. Expected downtrend for short term.
Comment:
There was an accumulation rather. Bitcoin was able to hold 10,800 USD level and broke out few hours ago. Bullish now. Targeting 12,000 USD in next few hours.