Bitcoin Is Testing the Prior Uptrend Line - Game On!
Well, Bitcoin is in a price battle right at the level we expected!
Testing the Trendline
After finally making a move higher to the price level around 8k-ish that we targeted, bitcoin finds itself consolidating as the buyers and sellers duke it out.
The question is - who will win?
Will we establish above 8K and get back above the long-term uptrend line and dare I say work back into an uptrend.
Or
Will we fail here, thus confirming the breakdown out of that prior uptrend only to head back down to 7,400 and 6,500 even.
Game on!
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Best Regards,
Disclaimer: All info in this post is my opinion and for educational us
Free e-book: ScaredyCatGuide to Knowing What the Heck Bitcoin Is
Best Regards,
Disclaimer: All info in this post is my opinion and for educational us
Still nervous on the bulls but agree the sideways would be at least a stall of the bears... this should be a good tell.
great post!
upd and resteem
I am confident we will see new ATH eventually, so as I don't trade, I am just holding and patiently waiting.
Nothing wrong with that approach. I have a position that I'm holding long-term as well.
Thanks for the info, looking forward to be a student you will be proud of soon....😊
I think we will experience a breakdown to say $7,200 before final up trend
I'm cool with that, I have a buy order in at 7,500 ;-)
Great!
Nice analysis, based on the upward movement in RSI (yellow line), I think we are going higher vs. lower.
The positive divergence in RSI is always welcomed :-)