BITCOIN Likely to Experience Double Top
Bitcoin has found support at the critical $4,150 level where bulls have made a push and taken BTC up towards the $4,356 resistance level which will probably be broken within the next one or two trading sessions.
We've seen the most consistent bull volume since the last test of $4,472 resistance, and indicators are favoring a push upward to test this level again. The only question after testing $4,472 again is if bulls can hold and break it. Bull support at $4,150 forming a higher low as well as technical indicators on all longer charts are hinting that there might be a push upward again if the bears don't show up at the $4,472 level again.
Hourly indicators are showing overbought levels, so a pullback to $4,266 is likely. If BTC finds support after bulls cool off at this level, we should see enough energy and momentum to test $4,472. $4,547 is the resistance after that level, with $4,685 after. There's definitely no shortage of resistance levels for the bulls to face, but also plenty of support. Bulls broke the $4,266 resistance with minimal effort, so this potentially might not suffice as a support on the way down.
Plenty of excitement today, but trading is definitely favoring bullish momentum at the moment. Happy trading!
For a second there your post title lead me to believe you are negative on bitcoin. Yet after reading your post it sounds like you are more bullish than bearish. Sweet.
Honestly I'm pretty neutral. I just react to what happens instead of trying to make a prediction. Long term I'm bullish for sure, but short-long term I do think the crypto space has a lot of cooling off to do.
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All-In!