BitcoinLong
BTC will break to the up side
Target : 12.5K
1) low volume bottom, no sellers willing to sell sub 9K, and we know many buyers are waiting for 8-7K.
market has to rally.
2) new bottom found after a long draw out correction, during which accumulation appears to have taken place.
3) a new support trend line can be drawn by connecting the 1 & 2 bottoms, However! this new trend is not tested, a new more aggressive trend appears!
now BTC has encounter resistance line, and has CLEARLY broken the aggressive support trend line, yet we see 0 bearish action, only sideways with consistent volume.
everyone is waiting to see where this goes before jumping on board, i think we all know where this is going...
massive move is hours away now. I believe the market is waiting for more dumps, and or 0 selling pressure, before moving up.
Target : 12.5K
1) low volume bottom, no sellers willing to sell sub 9K, and we know many buyers are waiting for 8-7K.
market has to rally.
2) new bottom found after a long draw out correction, during which accumulation appears to have taken place.
3) a new support trend line can be drawn by connecting the 1 & 2 bottoms, However! this new trend is not tested, a new more aggressive trend appears!
now BTC has encounter resistance line, and has CLEARLY broken the aggressive support trend line, yet we see 0 bearish action, only sideways with consistent volume.
everyone is waiting to see where this goes before jumping on board, i think we all know where this is going...
massive move is hours away now. I believe the market is waiting for more dumps, and or 0 selling pressure, before moving up.
Target : 12.5K
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.