Bitcoin accumulating below 8450, break higher targets 9000-9200 zone
BTCUSD is currently consolidating below 8450 after last week's impressive surge out of key support. Though we've had no follow through thus far, pair has held up nicely since, with buyers keenly defending 7800 against a confirmed H&S topping pattern on Wednesday:
The false bearish break bolsters the case for continued strength and bulls will now be looking to take out Sunday's high of 8460, marked by the 38.2 Fib at 8450:
I'm looking for a break above 8450 in the coming sessions and this would open up the path to a key resistance hurdle in the 9000-9250 zone, marked by the 50% of the decline from 11 000 at 9070:
I think it is very likely we see a correction there as a larger Inverse Head and Shoulders reversal pattern takes shape:
I'll be trading in line with this view - holding long for 9000 where I'll take profits and look to buy back in lower down for the eventual move back towards 11 000 (and hopefully beyond!)
Would this mean that Steem would go up with BTC?
Yep, not always the case, but that is the current paradigm - the entire market seems to be in recovery mode :)
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No doubt, someone somewhere is pupeteering bitcoin trade. These guys use designated variables to influence the market prices. There are specific top-list trader who ensure better prices when they are trading, but ensure that exchange rates plummet immediately they quit trading. the trend is such an artificial trend.
All markets are rigged on one level or another - a good trader should still be able to navigate them profitably. Blaming the powers that be for a drawdown is a cop out.
werd yo
honestly people now days are not interesting to engage with bitcoin
I am a beginner in steemit.
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https://steemit.com/coinkorea/@ayogom/bitcoin-whale-wallet-analysis-2018-04-19
https://steemit.com/bitcoin/@ayogom/bitcoin-whale-wallet-analysis-2018-04-18
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market cap rising steady! Usdt on average decreaseingn weekly! bullish!
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