BTC/USDT, The Bulls are back again!
It is really hard to do Technical Analysis these days, because bitcoin is highly manipulated. Its price dropped again to 7000$ and we have bounced on the main support. Thankfully bitcoin forms a triangle so we might see it bouncing between these lines for some time.
On a smaller chart chart bitcoin formed a bullish pennant so if we will get through the resistance line we should see bitcoin rising up more. Otherwise I would expect bitcoin to move between the edges of Ichimoku Cloud and then break either up or down. As you can see the Ichimoku Cloud is reversing and the conversion line will soon go above the base line which indicates that bulls are gaining control of the price.
Yes, it might be the case. But let's not go blindly into a bulltrap. If we will break that triangle, that's where we should be bullish :) We will see.
Of course it might be. Yeah I totally agree with you. Thank you for checking my post!
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