theCrypster

BTC in rising channel - Start of Bulls?

Long
KRAKEN:BTCUSD   Bitcoin / U.S. Dollar
Hey guys.

Check this out. There's a clear and obvious level of current resistance Bitcoin will have to break through before any proper Bull action will begin. That level is @ $10,400.

We are currently ranging in a very strong upward channel right now, that's not to say the price will be consistently rising, but 2 steps forward and one step back still leaves BTC with a positive expected value! At least, until it hits that resistance.

Once we start tickling that resistance level at 10.4k, which would likely be within a couple of weeks, one of two things will happen. An immediate and drastic decline down to to low-mid $9,000's, bouncing off support at that low level and forming a trend channel - or, (my personal favourite!) a break through at $10,400 rising all the way through to $12,000's! This would indicate the start of a Bull run, with ATH's being eaten up quickly after this!

Get in there and Buy some BTC now, Hold it. Hold it some more. Sell when you can retire on it! :)

Good Luck & Happy Trading!
theCrypster

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