In the past bitcoin has fallen back to the 382 very often. This key level either resulted in btc continuing the trend or reversing. Major factor is the double top pattern, when this occurs and btc test the 382 it more often than not breaks that level and makes a deep retracement. Right now we are leaning more towards a double top pattern. Which would implie btc is...
Broke out of the triangle, now trending upwards. Right now at resistance: fib .618 & previous sell level. My opinion is that it will make it up to the higher range. With possible downward move again at the montly resistance.
After this big rally we are approaching resistance levels and fib levels which have proven to be significant in the past.
First let's make a case for a possible top at the 11000 region, for a pullback of around 15-30%
BTC is creeping towards the very strong resistance level of 6000-6300, with current market uncertainty it is not yet clear if the level will be broken or not. News on tether and bitfinex will influence if we break the level, although lot of it is already priced in with the knowledge that 40% of capital is already moved off Bitfinex. While the case will be cleared...
Resistance and trend line are about to cross. Key moment for btc, closing prices will reveal the future of trend. Market will likely move sideways because of indecision, only manipulation will lower or higher the price. Right now short push is possible but with low demand not likely.
Bitcoin needs a close above 6600 for a short pump, right now it is stuck in the channel. Trend line right now is upwards so chances are better for an uptrend. But if btc breaks trend en closes at 6200, bear moves are very likely. Right now it is waiting on the conformation candle.