Bitcoin (BTC) Price Update: Rally Above $10k! What's Next?
bitcoin·@devytan·
0.000 HBDBitcoin (BTC) Price Update: Rally Above $10k! What's Next?
<html> <p>Hi guys!</p> <p>Woke up to an <strong>exciting morning</strong> today! <strong>Bitcoin rally above $10,000</strong> and my <em>trading bot perform rather nicely</em> last night. Finally got something going on here guys! <strong>Making money while I'm sleeping</strong>!</p> <p>So, here are my thoughts on bitcoin for today. </p> <h2>BTC - Daily Chart</h2> <p>Tools used: <strong>Trendlines</strong> and <strong>Ichimoku Cloud</strong></p> <p><img src="https://steemitimages.com/DQmUqPNj3qMsSuNiBYcGJ7eTCZnRtq74eA6kBzoSLzhzoJq/5a8649a459c87.png" width="1210" height="642"/></p> <p>On the daily chart as you can see there bitcoin still have <em>a long way to go</em> before we can see <strong>a confirmation of a bull trend</strong>. I mean, this could just be <strong>the last dead cat bounce</strong> <em>before the final capitulation to the downside</em>. <strong>Three prices</strong> I would lookout for:</p> <ol> <li><strong>Immediate resistance</strong> around <strong>$11,500</strong>; This is sort of resistance from the previous down trend.</li> <li><strong>Prior support / bounce price area</strong> around <strong>$12,000</strong>;</li> <li><strong>Major resistance</strong> around <strong>$13,000;</strong> As you can see on the chart there to break this bull flag bitcoin has to close above $13,000 at least.</li> </ol> <p>If you've read <a href="https://steemit.com/bitcoin/@devytan/bitcoin-btc-price-update-remember-the-reversal-pattern-i-pointed-out">my post yesterday.</a> I mention 2 scenarios. Both <strong>bull scenario </strong>and <strong>bear scenario</strong> are explained on that post so you can check that out <em>if you are interested</em>. </p> <p>There is only <strong>1 price I am really interested</strong> at this current market which will give us <strong>a very strong confirmation</strong> whether this is just <em>another bounce or a reversal</em>. Which we should get <strong>by the end of this week</strong>.</p> <h2>Disclaimer </h2> <p>You know the drill guys. This is just opinion and not a financial advise. Do you own research and decide your own trades. Cheers!</p> </html>
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