Bitcoin Technical Analysis: CONSOLIDATING BEFORE NEXT MOVE

in bitcoin •  20 days ago


Bitcoin continues to consolidate just above of the $3,800 support on Coinbase. Volume remains low overall, which is a bit concerning. Price is being squeezed as the bulls and bears fight for control. I wouldn’t be surprised to see a larger move in the next 24-48 hours.


Screen Shot 2018-12-30 at 5.23.12 PM.png

Looking at the daily chart, we see price is hovering right on top of the 21 Day EMA.


Screen Shot 2018-12-30 at 5.25.00 PM.png

In today’s video analysis I discuss, various scenarios to prepare for, where price may be heading next and so much more. I hope you find it helpful.


Video Analysis:



If you don’t see the above video, navigate to TIMM (https://mentormarket.io/workin/) or Steemit in order to watch.


I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin


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Just recently started following your stuff.
Thanks for the info and perspective.
A new era perhaps.

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Hi there ! Nice analysis, do you have any probabilities for this move being upward or downward

Posted using Partiko iOS

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Thanks @vlemon. As of writing this, both longs and shorts are stacking simultaneously...which is unusual. Volume has dropped off. As I said in the video, this is a no trade zone for me precisely because I can see a break in either direction. Regardless of short term price movement, I’m seeing no sign of a bottom yet.

Yeah, playing that consolidation might be just giving money away.

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Agreed. I’m just not seeing any short term trade setup...not yet anyway.

Since the second half of December up until recently there has been a big surge in the price of BTCUSD that could have started an uptrend.
After a retracement last week the trend might continue upwards.

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It certainly could, but we’re going to need a massive increase in volume for a sustainable bull run.