BITCOIN - The Trend Continues.
From my previous analysis (which you should check out on my page), we have kept the symmetrical pattern intact and so far Bitcoin 3.81% has remained bullish (As my last TA indicated it would. "TA - Technical Analysis"). Now, this is similar to my last chart, however, the pattern has slightly changed. We now should look at the red rectangle as a point for optimal buy entries as that is where the support lies for the price (which also tells us we may see a short-term dip on Bitcoin 3.81% in the upcoming days to return to this line which would be around the high $10,000's). Currently, the market is fluctuating between the resistance and support but also should be seen as a period of consolidation which is usually a bullish trend , once this consolidation begins to fade it is likely that the price will see an increase in value.
Link to analysis- MACD - A nice support has formed on the RSI , we could expect for the price to touch down on this before continuing the trend higher.
- RSI - similar to the RSI heavy supports have come into play and are acting a barrier to hold the Bitcoin 3.81% price up, this is a good signal.
- Orange - Resistance.
- Pink - Support.
As always trade the lines accordingly.
9000-10000 seemed a crucial support, which Bitcoin tested a few times over this month, but did not break it. TA and rising global demand are enough to be bullish on bitcoin.
thank you for your engagement ;) I am bullish as well my man!
😜
Thank for the comment u left on my post 😃
Anytime time man! :D
Will bitcoin fall below 10 k dollars?
Read the post :D It has very large support right now so it is not that likely.
I read your post.
Yup, good analysis, i think the bears had enough time to break 10k$ and confirm and it didn't work, time for the bulls to try to take us on a ride. With LN keeps growing and reaching usable status on the mainnet , while fees and mempool sizes are constantly dropping i remain bullish on bitcoins outcome.
Bears Are getting battered currently, yes that is true. Really LN will shoot the price up, thanks you for your descriptive comment man!