BTC broke the 10k line of resistance.steemCreated with Sketch.

in hive-148441 •  4 years ago 

Hi All,

As you all know Bitcoin has broke the 9k line of resistance today (broke through the wedge* - the 2 lines drawn in the chart below) making new highs for this month reaching 10k but the price action just dipped and resting on 9900.

*A wedge to indicate future price action, normally indicates a bullish market

Below is the monthly chart of the price action;

Bitcoin-Monthly-08-5-2020

Below is the weekly chart of the price action;

Bitcoin-weekly-08-5-2020

Below is the daily chart of the price action;

Bitcoin-Daily-08-5-2020

The daily chart shows the incredible run up we had in the last 24 hours

What does this mean?

The market is still bullish on bitcoin, we just have to wait and see if there is another run up above 10k just before the halving event.

My humble prediction, is yes we will continue to have more run up like these just before the halving event.

2020-05-08 23_46_17-Window.png

We just have to wait and see.

I have posted another in-depth analysis into why I am bullish on bitcoin and my predictions.

Please have a read;

https://steemit.com/hive-148441/@liverpool-fan/bitcoin-price-action-prediction

Love to read your comments if you agree with me that the market will continue to rally up before the halving event and what would happen to the price of bit coin after the halving event.

Please leave your comments below.

#cryptocurrency #bitcoin #priceaction #investing #trading #steemit

Steemit.png

note this is not financial advise

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