Bitcoin (BTC) Key Levels Today
What's up traders and investors, I hope you are all having a good start of the trading week even though most coins show red.
As you can see, the Bitcoin price is in a consolidation area, and as expected the price will not continue highere so easy. It's having a hard time to break through the resistance. I think the price will stay there for some time, before it will break up.
If the daily candle can close above the key resistance, that would be a very good sign that the price will continue highere and continue the bullish trend.
As long as price holds in the consolidation area, there would be no worries for a new downtrend will start. We can start to pull the eyebrow if the price breaks the key support.
Disclaimer: Trading has a high risk level and may not be suitable for all investors. Before you decide to invest, carefully consider your investment goals and risk willingness. The possibility is that you can sustain a loss of some or all of your initial investment and therefore you should not invest money that you can not afford to lose. You should be aware of all risks associated with currency trading and seek advice from an independent financial adviser if in doubt. I'm not a financial advisor and there is also no content in this article that is presented as financial advisory.
I hope it breaks the line of resistance because it would positively impact all other cryptocyrrencies. Thank you for this optimistic analysis @tradewonk
My pleasure
There is no supports or resistance in the charts :) I bet it will break that line like without stopping:
Looking at the bitcoin price (btc) which is always a red color, the traders will shrink their nerves. Moreover, other coin prices also show a similar trend. However, in the world of trading we are always taught to be careful, not pure buying or selling. Indeed, people always buy coins when prices go down, and sell when prices go up. Sometimes it does not always have to be that way. Remember, in trading it should not be a loss. That is all.
hi @tradewonk 😊 like your postings and follow them everyday. Today i want to share my view at the btc. have a nice day and keep on 😉
Good view! I made the same analysis yesterday and 3 days ago :)
Bitcoin is rising and all the traders as expected it already breaking the highest point. That's reason bitcoin trading become more good.
I am a beginner cannot yet predict the candle and chart, how to let me know the price will go up or down,,?
I can only see and read your post as a lesson for my appreciation in trading.
Thanks @tradewonk for best topic
Check my blog it could help you learn something:
Yeah, it's the right time to trade in bitcoin.
https://steemit.com/cryptocurrency/@khaled4444/bitcoin-to-where
After the fifth wave in your chart, at what price would you expect the minor correction to hit? I hope BTC will continue to recover like this in order to draw more interest from the masses and also for companies and entrepreneurs to start adopting cryptocurrencies. I also hope that the transaction speed and costs will catch up too once mass adoption is here. :)
Certainly intersting point of view. I think at the moment the markets are extremely choppy and trading them is very difficult. I also believe that we might be ranging in the 10-12k for a few while.
Today I saw something interesting - A double top formation may be developing, I wrote a detailed article on it. I would be very glad if you can check it out HERE
Good job! Valuable analysis :)
It's not hard when you have knowledge and experiece :) Here's my view on BTC:
Good for you ! I prefer to have more info before placing a bet. I personally don't think your scenario is more likely than mine. I prefer the double top, but who knows. We will see :)
If you want to learn more check my blog, I try to do my TA simple and understandable!
you should check out KucoinShares i think they are going to break out here soon