Following the expectations of many of us, Bitcoin ( BTCUSD ) continues going higher regardless of what anybody believes... Some TOP traders are claiming that Bitcoin will hit 3K but the truth is that Bitcoin continues moving up... There is still PLENTY OF ROOM LEFT AVAILABLE FOR GROWTH... This is just the beginning.
The total cryptocurrency market cap. is now sitting at $370B according to CoinMarketCap.
Bitcoin ( BTCUSDT ) on Poloniex ( Levels)
Looking at the chart above, BTCUSDT on Poloniex, we can see that the is still low and the still needs to climb a lot before reaching its ATH .
Our next target is now sitting at $13457, followed by $14855 on the chart above. We looked at different targets on the weekly time frame, here we are looking at the daily time frame for additional information. (Weekly analysis)
Strong resistance can be found at $16633, followed by a new ATH based on Fibonacci proportions at $21,772. Even $25,000 is possible as a new all-time high or higher depending on how this parabolic bull run develops.
As for support, we introduced EMA5, as EMA10 hasn't been touched since the 12th of June.
On a strong drop , if Bitcoin manages to close below $11490, we look for support at $10650 followed by $9590, or we can say that support on a strong drop is sitting at the $9,500 to $10,500 price range... We can use this as our main support.
Since we have a parabolic run, we also prepare for strong moves to the other side as potential scenarios. The strongest support on the chart above for a drop is now sitting at $7200.
We believe Bitcoin can go higher, and that the smaller sized altcoins will have a massive bull run once Bitcoin stops or retraces... Patience is key.
We will be looking at all of the major and minor altcoins now vs USD and/or the stable coin Tether (USDT), since the BTC pairs won't move positively until Bitcoin takes a break.
In the meantime, enjoy your Bitcoin ... As the market grows, many more opportunities will also develop.
Thanks a lot for reading.
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Bullish Bitcoin Surpasses $11111, Aims At $15,255 or Higher
"NVT Indicator: We read about the NVT indicator and we can also see the sell signal. Please let's keep in mind that this is only one indicator.
This signal can either playout or it can't, even if the indicator is there and flashing a sell signal, it doesn't necessarily mean that Bitcoin is going to drop, but that it can drop based on certain criteria.
So this is just a signal... Sometimes we see divergence that goes for years before playing out. We see patterns and candles giving out signals that go the other way.
So this is a valid signal, but it doesn't decide what happens next."
You can see it here:
Just follow the trend...
"Our next target is now sitting at $13457, followed by $14855 on the chart above."
Below EMA10 on the 1H time frame though, this might be the top for now...
Wishing you a great day.