Bitcoin (BTC/USD): Morning Analysis!
Finally Moving! (Daily)
Last week Bitcoin was ranging between $7,800-$9,000, Yesterday's daily candle close as a bullish engulfing and be we broke out of our consolidation zone...Now What?
4 Hour:
Shown on the the 4hr timeframe we can see price is respecting our channel structure, heading towards our first major resistance @ $11,000-$11,700 zone. (2 possible) scenarios BTC could see a small drop to $9,500 and continue it's path towards our next zone, or depending on how long momentum continues holds/grows we could see a move straight to $11,500.
Hourly:
Shown on our trigger timeframe we can see a minor uptrend has formed, price looking to break channel structure.
Conclusion:
Bitcoin will has little to no trouble moving up to $11,500, however once our target is reach we may be in store for another epic battle between buyers and sellers. If you are looking to add to your Bitcoin bag, below $10,000 is steal in my opinion this time next year we will not be near these lows.
Comment Down below what coin you want me to do next! ;)
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
Solid analysis!
Good work my friend!
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