Hi fellow enthusiasts,
It is amazing how unpredictable Bitcoin has been over the past couple of weeks, and many are getting tired of Bitcoin moving sideways.
If we look at the higher timeframes chart we see two very strong lines slowly but steadily coming closer: the downtrend line from ATH above us and the long uptrend line going through the low on feb 6th right below us.
Without any special news/event it seems likely that we will be bouncing between this strong support and as strong resistance.
This means we will probably have to wait until mid april to see a real big move in either direction.
In the meantime we can use the predictable boundaries to our advantage.
Last remark: it is quite possible we will not shoot up to test the resistance above immediately.
But as long as we don't break the support below I am not worried.
Just my two cents of course, please feel free to let me know why you don't agree.
Happy trading!
C.J.
It is amazing how unpredictable Bitcoin has been over the past couple of weeks, and many are getting tired of Bitcoin moving sideways.
If we look at the higher timeframes chart we see two very strong lines slowly but steadily coming closer: the downtrend line from ATH above us and the long uptrend line going through the low on feb 6th right below us.
Without any special news/event it seems likely that we will be bouncing between this strong support and as strong resistance.
This means we will probably have to wait until mid april to see a real big move in either direction.
In the meantime we can use the predictable boundaries to our advantage.
Last remark: it is quite possible we will not shoot up to test the resistance above immediately.
But as long as we don't break the support below I am not worried.
Just my two cents of course, please feel free to let me know why you don't agree.
Happy trading!
C.J.