#Bitcoin : The Giant Re-Generating Itself For A New ATH.
Bitcoin_Update
As exactly predicted by our team Bitcoin actually tested the $42k level and formed a clearly bullish falling wedge pattern and break out the first fib level at around $46400. We are aiming to pass the $48k and $50,600 area of resistance and a major resistance at around $51,400. Before that we might see a corrective impulsive wave formation and even get a chance to test the ATH once again depending on the fundamental news updates in the coming days. Today we have seen a good possible bullish break out specially after Google Finance's adding of crypto assets market tab in its business tool and an additional 15 million worth of Bitcoin's are added to MicroStrategy's fund. For now we are in at least a short term bullish trend indications also showing a good strength to go a further upward leg up move including MACD, Signal line, Volume, EMA, and RSI all showing a bullish run at least for the time being.
Conclusion :
We are expecting a formation of a 3 to 5 elliott waves formation by the following days Bitcoin regenerating itself for a test to its all time high once again. We need to see and evaluate the wider time frames for a multiple confirmations of a bull run though. For now expecting to test the $48k and $50.5k levels for now before retesting the $48k level as a support and after a most probable H&S pattern formation Bitcoin will most probably try to push further up for a bullish run. But we still need some more institutional positive hype to come in the market.
Stay Tuned for more.
@cryptotalket
As exactly predicted by our team Bitcoin actually tested the $42k level and formed a clearly bullish falling wedge pattern and break out the first fib level at around $46400. We are aiming to pass the $48k and $50,600 area of resistance and a major resistance at around $51,400. Before that we might see a corrective impulsive wave formation and even get a chance to test the ATH once again depending on the fundamental news updates in the coming days. Today we have seen a good possible bullish break out specially after Google Finance's adding of crypto assets market tab in its business tool and an additional 15 million worth of Bitcoin's are added to MicroStrategy's fund. For now we are in at least a short term bullish trend indications also showing a good strength to go a further upward leg up move including MACD, Signal line, Volume, EMA, and RSI all showing a bullish run at least for the time being.
Conclusion :
We are expecting a formation of a 3 to 5 elliott waves formation by the following days Bitcoin regenerating itself for a test to its all time high once again. We need to see and evaluate the wider time frames for a multiple confirmations of a bull run though. For now expecting to test the $48k and $50.5k levels for now before retesting the $48k level as a support and after a most probable H&S pattern formation Bitcoin will most probably try to push further up for a bullish run. But we still need some more institutional positive hype to come in the market.
Stay Tuned for more.
@cryptotalket
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