Bitcoin Technical Analysis: LARGER MOVE MAY BE COMING

in cryptocurrency •  13 days ago

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Bitcoin seems to be consolidating within a larger wedge. As price gets squeezed tighter and tighter, a breakout, up or down, becomes more likely.

Screen Shot 2018-09-12 at 11.37.25 AM.png

Looking at the 4 hour chart, we see the bollinger bands are bottlenecking as the 8 and 21 day EMA converge. This is another sign of a POSSIBLE larger move coming in the near future.

Screen Shot 2018-09-12 at 12.08.49 PM.png

In today's video analysis I discuss price movement over the next few days and weeks, traps to avoid and MUCH more. I hope you find it helpful.

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

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Posted by mind. Thank you all for your post.

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My pleasure.

So you are saying a move towards 7700 is possible ?

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A short squeeze to $7,700 is possible, but a more likely scenario is a retesting of the 2018 lows. If price breaks above $6,750, I'll become more optimistic.

nice analysis mate, I have the same view...in my last video I also highlighted why I think ETH is leading the drop in btc...