Bitcoin TA - Bull Run
Updated
In my previous Analysis in ETH I stated that Bitcoin needs to break the 42,000 level and hold, in order to see some gains in Btc and Alt space.
We saw just that. BTC broke 42,000 saw a re-test supported by the Moving Averaged seen on the graph. Shortly after it has risen to 46,000 at the time of this post.
We also saw good runs in Altcoins such as ETH ADA LTC VET just to mention a few.
Bitcoin has much resistance ahead of it. but we did break the major one and it held. See my orange / red lines for a guide.
I would like to say that for those who thought the bull run was over, this is not the case " WE ARE STILL IN THE BULL RUN' However we had a good pullback. It was due to, a lot of manipulation was done to bring crypto space down. Don't get fooled by the media as it is not your friend, Media wants you to fail.
I will update and give explanation for each TA I do.
Smogster...
We saw just that. BTC broke 42,000 saw a re-test supported by the Moving Averaged seen on the graph. Shortly after it has risen to 46,000 at the time of this post.
We also saw good runs in Altcoins such as ETH ADA LTC VET just to mention a few.
Bitcoin has much resistance ahead of it. but we did break the major one and it held. See my orange / red lines for a guide.
I would like to say that for those who thought the bull run was over, this is not the case " WE ARE STILL IN THE BULL RUN' However we had a good pullback. It was due to, a lot of manipulation was done to bring crypto space down. Don't get fooled by the media as it is not your friend, Media wants you to fail.
I will update and give explanation for each TA I do.
Smogster...
Note
Happy ATH. Update. As now BTC broke ATH we are in discovery mode. there will be resistance at 70k lvl. This is all Textbook.
As I stated on Aug 9 in the analysis above. We are still in a bull run. I expect it to last until the end of the year, before hard correction. . If you want too long I would long ETH or other Alts such as ADA BNB. Please show support and stay posted for updates.
Smogster
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.