Bitcoin taking off! .. but there's 1001 resistance factors aligned at 6750$
Bitcoin broke out of the wedge and is currently at the long 6750$ resistance line and Ichimoku's Tenkan. Breaking above 6750$ will bring back some billions of dollars in the market. We have the red cloud closing (notice that the we didn't have a green cloud since March) & the MACD is also taking off.
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On the daily chart, we're currently at the 55 & 100 day MA's, which represent another resistance level that we have to cross.
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A closer look on the 4h chart: we are at the flat top of a the cloud (as I said before: this usually acts like a magnet and pulls the price towards it) and we're also at the 0.5 fibonacci retracement from the last run, acting as additional resistance.
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If we break these days the 6750$ level, we're going to +7500$ again!
These are some of the exchanges I use:
(you can support my work by registering via these links)
- Bitfinex - my most used exchange
- Binance - most popular exchange
- Kucoin - excellent exchange, rising in popularity
- Gate - for small cap / new coins
- Huobi - margin trading
- Coinexchange - big variety of coins
ALWAYS CREATE A DIFFERENT PASSWORD FOR EACH EXCHANGE!NEVER HAVE THE SAME PASSWORD TWICE!SAVE THE PAGES TO YOUR BOOKMARKS, SO THAT YOU WON'T CLICK ON SCAM SITES! MANY GOT FOOLED AND LOST A LOT OF MONEY!Thanks for reading and safe trading!✌
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I have a good feeling about this rally, the volume in the market is what gives me confidence.
Indeed, the volume confirms the bull run so far. I hope you're right with your feeling, it's about time.
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