BTC Breakout is looking good
Boy oh boy are we seeing some Bullish signals.
Over the last couple of says we have seen BTC dip to $5900 USD and an inverse head and shoulders pattern form on the 4 hourly charts. Showing good signs that a bullish move on bitcoin is about to happen.
Why is bitcoin going to Bullish?
Since our last correction of BTC we have seen two major down trend lines from. The upper one is the broad trend line and the lower on is a more severe down trend line. Over the last few days we have seen BTC price action break through the more severe down trend line. This along with the inverse head and shoulders pattern has indicated that a break out would be imminent.
We then saw a tightening of the 4 hours charts and recently had the initial break out which we should see some good bullish continuation on.
Watch BTC closely. We should at least be heading towards the $10k mark and then to test the major down trend line.
Peace
Fuble
How do you know Btc will go up from the price shown in your chart? Could it come down to $8.3K by this Friday?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Based off the 4 hourly charts you can only look for the general trend. The reason I don't think BTC will hit $8.3k is mainly because our last support is at around $8400 USD.
Also you can look for confirmation on the charts of the 15 and 5 minute time frame which is showing that we are getting a tightening equilibrium pattern forming before the next push up.
That's just my opinion. I will still be watch at least the 15 minute chart to further confirm this as it plays out :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for explaining...You called it correct....BTC went up to $9600 up to now from 12 hrs ago.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No worries went as high as $9900 :)
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit