Bitcoin Technical Analysis 04/01/2018
Bitcoin price has recently broken above the top of its descending triangle pattern on the 1-hour time frame.
Price has also completed a quick pullback to the broken triangle resistance and now moving towards next point.
A bit of a bullish flag can be seen and this is considered a continuation signal. One thing also we need to know about volume, As we know if Volume dragged down from any market, the price distractfully dropped from where it trading before. But if volume enterd into large scale the volatility also went up with the greed as its an essential key fact about cryptocurrency markets.
BTC got huge volume within the past 2 days, therefore price did not coming down to $13000, We also need to care about any bear trapp into the alts markets if btc goes into crazzy bull run, Also we might not see a Massive Massive dump into alts markets as btc dominance still under 40%. prepare your strategy to handle the situation which is still in the Air, Cryptocurrency is drawing support from the large bet placed by the Founders Fund, which is a venture capital firm co-founded by Peter Thiel.
Price has also completed a quick pullback to the broken triangle resistance and now moving towards next point.
A bit of a bullish flag can be seen and this is considered a continuation signal. One thing also we need to know about volume, As we know if Volume dragged down from any market, the price distractfully dropped from where it trading before. But if volume enterd into large scale the volatility also went up with the greed as its an essential key fact about cryptocurrency markets.
BTC got huge volume within the past 2 days, therefore price did not coming down to $13000, We also need to care about any bear trapp into the alts markets if btc goes into crazzy bull run, Also we might not see a Massive Massive dump into alts markets as btc dominance still under 40%. prepare your strategy to handle the situation which is still in the Air, Cryptocurrency is drawing support from the large bet placed by the Founders Fund, which is a venture capital firm co-founded by Peter Thiel.
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