Crypto Analysis Report 4-21-18 BITCOIN...Trend Reversal Has Been Confirmed, Next Stop $12k
I talked about Bitcoin last on 4/13,
In that post I stated, if price took out the sellers at $8500, this would be a significant level to breach and would be confirmation of a trend reversal and price would most likely go up.
Because the trend reversal has confirmed, I anticipate price to move up to the next significant level of sell orders at $12k.
There is a speed bump at $10k, but most of those sell orders were absorbed already on 3/12 during the downtrend from $12k to $6500. It's so subtle, but worth showing you on the 4 hr chart because it's an example of the art of reading price action.
The one thing that kills traders is chasing price. Thus, two levels to jump on the train if price pulls back is at the $8500 and $8300 level where there are buyer orders waiting to get filled.
NOTE: these levels were found on the 1 hr chart.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
I hope we have to fasten our seat belts up to at least 12K :-)
Enjoy the ride:)