Volatility incoming... Decision time!

It seems like Bitcoin is remaining inside this nice uptrend (upwards white lines), and we are getting more and more intense swings (yellow lines). We are currently at a fragile resistance (descending line), so it is highly probable that the lowest support line will be tested again, which will be a good longing opportunity. If we break above the resistance line, wait for retest. As always, do not predict the market, but instead react to what the market is doing!

This increasing volatility (e.g. consider the increasing volumes in the last days) is somewhat expected, because of the incoming US elections. Finally, market cap seems to be ready to explode, so be prepared!!

Comment:

I hope you entered the long! It worked out really well, first breakout, then retest of support at 13.4k (perfect entry point), and then upwards testing of the upper resistance trend line above 14k, which got touched perfectly and didn't break. Now expect some more confirmation and volatility (possible retest of support at 13.6k and resistance at 14k, which are the current support and resistance levels.

We are still bullish on BTCUSD, but be aware that in a mid-term perspective a retracement to 12.7k is highly probable. This level is a strong support (previous resistance), and is also the 0.382 fibonacci retracement of this bull run started at the end of September completing an extended W formation.

Let's wait to see what the market does and we'll take into consideration short opportunities after the 14k retest with good success probabilities.