The king is back to 50k. But the question is will the price reverse from the strong resistance at 51k, or breaking 51k
I would like to point out a few indicators that i think it will break 51k. From the last posting, I have been bullish with BTC. However, the price reverse from 51k and down to 47k.
I have reasons to believe that it will break 51 to 57k at the first instance.
The volume is decreasing when the price is going up. It just means that the sellers are less and the circulating coins in the market is getting scares. The pushes the price up. At a 4 hourly frame, there is a double bottom formed with a W bullish pattern. The MACD also revealed a bullish convergence.
One might argue that in the 4 hourly chart, the RSI revealed a bearish divergence with lower high, which price going higher high. However, when you zoom out to a larger time frame, the MACD weekly time frame has crossed. It's still bullish overall. Since, it's bullish overall, just buy the dip or any breaking of pattern.
I am overall bullish with cryptocurrency still
Would really appreciate if you can hit like if you like the idea and shoot any comments.
I would like to point out a few indicators that i think it will break 51k. From the last posting, I have been bullish with BTC. However, the price reverse from 51k and down to 47k.
I have reasons to believe that it will break 51 to 57k at the first instance.
The volume is decreasing when the price is going up. It just means that the sellers are less and the circulating coins in the market is getting scares. The pushes the price up. At a 4 hourly frame, there is a double bottom formed with a W bullish pattern. The MACD also revealed a bullish convergence.
One might argue that in the 4 hourly chart, the RSI revealed a bearish divergence with lower high, which price going higher high. However, when you zoom out to a larger time frame, the MACD weekly time frame has crossed. It's still bullish overall. Since, it's bullish overall, just buy the dip or any breaking of pattern.
I am overall bullish with cryptocurrency still
Would really appreciate if you can hit like if you like the idea and shoot any comments.