BitcoinLong
Wedge breaking up, look for $3650 $BTC resistance #Bitcoin
As long as the price holds above 3350 on Bitstamp I think we will see a relief rally to $3650.
There is a distinct possibility that we have put a bottom in for 2018 since the price came so close to the resistance and the $3000 psychological level. Many had predicted a bottom at $3200 as well.
As I mentioned in the related post on the weekly chart linked below:
"The weekly Stochastic RSI , 200-week moving average, high leveraged shorts, horizontal support, and weekly Bollinger Band all indicate that we are coming up on a tradable bottom (at least.)
Having adjusted the Bollinger Band to identify secular periods of euphoria and desperation in the Cryptoshere, it is clear that we are in a rare time of desperation for Bitcoin aficionados. It is in a time like this that the bottom of the 2014 bear market ended. In hindsight, it was the best time to buy BTC before the last bull run.
I believe that in the next week we will see a very tradable bottom and a significant rebound in prices. It is likely that the low of the coming days will also mark the bottom of the 2018 Crypto Bear Market."
There is a distinct possibility that we have put a bottom in for 2018 since the price came so close to the resistance and the $3000 psychological level. Many had predicted a bottom at $3200 as well.
As I mentioned in the related post on the weekly chart linked below:
"The weekly Stochastic RSI , 200-week moving average, high leveraged shorts, horizontal support, and weekly Bollinger Band all indicate that we are coming up on a tradable bottom (at least.)
Having adjusted the Bollinger Band to identify secular periods of euphoria and desperation in the Cryptoshere, it is clear that we are in a rare time of desperation for Bitcoin aficionados. It is in a time like this that the bottom of the 2014 bear market ended. In hindsight, it was the best time to buy BTC before the last bull run.
I believe that in the next week we will see a very tradable bottom and a significant rebound in prices. It is likely that the low of the coming days will also mark the bottom of the 2018 Crypto Bear Market."
Related publications
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.