Bitcoin to $71500 or higher today WK,MNT Close
Been a while since I post one of these. Where to start.
1. Trend is up
2. We broke 1hr downtrend at $70500
3. That resistance seems to be flipping into support.
4. If you go to the 4hr you see there is free space up to $71300 so we could get there fast. If the momentum is really strong then we might even break the high at $71800
5. Today is monthly and weekly close day, expecting a lot of volatility because of that...so far market seems way more bullish than bearish and the up move started from last night so seems the market wants to push up more while there is time left for weekly close.
6. Comparing bitcoin/usdt chart to eth/usdt in terms of correlation. ETh formed a big symetrical triangle and broke out to the upside and the move is not over yet based on the measured target if it's to reach it's target then that means that bitcoin would likely pump since eth and most altcoins correlate with bitcoin.
Those the main points. Structure is bullish, price using prior resistance as support. LONG IT! It's more probable than a short
1. Trend is up
2. We broke 1hr downtrend at $70500
3. That resistance seems to be flipping into support.
4. If you go to the 4hr you see there is free space up to $71300 so we could get there fast. If the momentum is really strong then we might even break the high at $71800
5. Today is monthly and weekly close day, expecting a lot of volatility because of that...so far market seems way more bullish than bearish and the up move started from last night so seems the market wants to push up more while there is time left for weekly close.
6. Comparing bitcoin/usdt chart to eth/usdt in terms of correlation. ETh formed a big symetrical triangle and broke out to the upside and the move is not over yet based on the measured target if it's to reach it's target then that means that bitcoin would likely pump since eth and most altcoins correlate with bitcoin.
Those the main points. Structure is bullish, price using prior resistance as support. LONG IT! It's more probable than a short