Bitcoin Technical Analysis: Bulls vs Bears...Awaiting a Victor

Bitcoin has been operating within a wedge for a few days now. As it reaches the apex, a breakout is likely. Market makers have gone stop hunting in both directions. They moved price from $6,500 to $6,190, and back to $6,300 inside of 15 mins.

Price could break in either direction. Bulls and bears are in an epic battle...we should have a victor very shortly.

The 4 hour RSI is finding strong resistance at 47.2. This has historically been a very relevant support/resistance. If price can break above, it'd signify a strengthening of the market...at least in the short term.

My short term bullish count has bitcoin on wave 3, with a target of $6,963.

My bearish count has bitcoin in 5 waves down, finishing the 5th wave. Target would be $5,603.

In today’s video analysis I discuss...market manipulation, current trades I’m in, many of the traps market makers hope you don’t know about, short term price movement and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story.

Video Analysis:

If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.

BIAS:

Short Term: Neutral
Longterm: Very Bullish

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

If you found this post informative, please:

If you don’t have an account on Binance, I STRONGLY recommend getting one. They’re usually the first to get reputable coins, have excellent security and second to none customer service. Sign up here free of charge: https://www.binance.com/?ref=16878853

Brave is one of the safest, ad free browsers ever created. It helps support the crypto ecosystem by awarding content providers with BAT tokens. Join the revolution and download the latest version here, free of charge: https://brave.com/wor485

Follow me on Twitter (handle is @Workin2005) and Facebook to receive the latest updates. https://www.facebook.com/Workin2005. Also, make sure to check out TIMM (Traders & Investors Mentor Market), a STEEM based platform for traders and investors of all levels. Sign up for a free membership and take advantage of the knowledge shared by many investors. You can find the link to TIMM below.

Published on

by Workin2005

---