BITCOIN is moving next 4000$ or Is this a Trap ?

in #bitcoin2 years ago

BITCOIN is showing it's really above 3500 $. In last 24 hr 5% increased.

But the biggest question is it a trap or Next move will be 4000 dollar

Market cap is not at very satisfying. May be Bitcoin will not hold the current position, it will reverse a from 3700-3750.

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@urme33 thank you for your response and resteem

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I suspect that this will hit major overhead resistance at around 4400, which coincides with previous resistance/support in 2017 plus the falling 50 EMA . This presents a good opportunity for a pullback and allows me to pencil in the head and shoulders formation.
This will be a major battle here, and unless we break above that level, the bears are still in full control and we could continue in a long term descent back below 3000.
please take a look at my recent post and tell me what you mean.
follow me for more crypto ideas.
https://steemit.com/bitcoin/@orphism/bitcoin-is-the-bear-market-over

I appreciate you personally for the analysis with EMA chart. As compare to last year Market is associate with lots of trap and flash of bleeding. But yes there are good news and opportunity for trading is always there.

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