Today we've witnessed a strong pump in bitcoin market and it stopped for now at golden ratio (0.618) which is $9977
The situation is intense because current price of bitcoin happens to be really close to the dark red resistance line which is made by connecting ATH to TOP of 2019.
The combo of UO's indicator shows a green cloud which indicates strong bullish condition of the market.
However, the most responsive to the price change - Black UO is about to be at overbought level.
I can see few scenarios:
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Check out the indicator: Triple Cross UO
For more information:
The situation is intense because current price of bitcoin happens to be really close to the dark red resistance line which is made by connecting ATH to TOP of 2019.
The combo of UO's indicator shows a green cloud which indicates strong bullish condition of the market.
However, the most responsive to the price change - Black UO is about to be at overbought level.
I can see few scenarios:
- Growth stops now at current level or at red resistance line makes correction to complete it's long triangular formation.
- If it breaks above resistance line, it's either a sign of upcoming serious bullrun OR it is just retracing up to 0.786 level and then definitely goes down to "home" levels to complete a correction.
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Check out the indicator: Triple Cross UO
For more information:
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