BITCOIN TECHNICAL ANALYSIS! WHY BITCOIN WILL NOT BREAK $8000 AND RETRACE TO $5000!
With so much hype and FOMO surrounding bitcoin, many if not most think it will push right through the $8000 resistance mark and head to $10,000 in a few weeks. However, bitcoin is experiencing a double top at the $8000 mark and has missed some key points of retracement on its bullish uptrend from $4900. Using the bollinger bands, it is clear and evident that bitcoin broke out into an uptrend dramatically at $5000, and never retraced. We experienced a recent pullback to $5500, but, in my opinion, it was not enough to warrant another bullish pattern. 
Furthermore, a broadening ascending wedge is occurring. This indicates that bitcoin will most likely not break upwards of $8000, and instead see a pullback to $6000 very shortly, and $5000 quickly after that. 
Bitcoin may break $8000 and push to $10,000 without retracing, but I believe that it is much more likely to experience a pullback, and those buying in at $5000 will be the true winners in the short term. I will personally not be buying at this price right now, and my buy orders are in at $4900-$5000.
*This is not financial advice. This is for educational and informational purposes only. Make your own financial decisions!
we will see what happens
Indeed we will! No one has a crystal ball.
Hello!
interesting to see what happens especially with news that CME launches its futures in December. I think it will go up
Should be another interesting week/month in crypto yet again!
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