Why BTC can break the resistance? Why BTC needs a correction?

in mgsc •  6 years ago 

Why BTC can break the resistance?
Why BTC needs a correction?

Screenshot_2018-08-01-15-54-44-1.jpg

Bitcoin is breaking previous resistance at 7500-7600$ and trying to test 7800$. Let's see whether it is possible for BTC to fly right now or not.

Why BTC can break the resistance?

  1. We have a clear bullish flag which should end around 8500-8800$.
  2. We just broke global resistance and holding above it already for a few hours.

Why BTC needs a correction?

  1. We still don't see a right correction after insane pump from 7300$.
    👇👇👇👇👇👇👇👇👇👇

Screenshot_2018-08-01-15-53-24-1.jpg

  1. **7800$ resistance is really huge,BTC took 4 attempts to break 7600$ though it wasn't so tough.

  2. TA indicators shows that BTC is **overbought.

  3. During today's pump 4k long positions were opened and now we have 65% longs and only 35% shorts - this looks like a bull trap.
    👇👇👇👇👇👇👇👇👇👇

Screenshot_2018-08-01-15-53-42-1.jpg

All in all, in next 1-2 days we might see the action so be ready guys!
👇👇👇👇👇👇👇👇👇👇

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Whats your opinion about it let me know by commenting Below .

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