Bitcoin pushed to 8100 USD today which tells us bulls are in the action again.
Look at the yellow line, we have gone past it, which means that now we are fully recovered from the "Corona dump".
What will happen next? I think BTC will fall towards the support at 7413 USD. Why?
The Americans are just waking up, not knowing about this pump. Will they FOMO (like my friend Elvis), jump in, and push BTC to the 8360 resistance or will they take profits and make BTC plunge towards 7413?
Also, we can see a rising wedge being formed on the chart, this usually suggests a reversal. I would suggest waiting for at least two candles being closed over the "yellow line" to confirm the recovery.
It took us 6 weeks to get back to 8k, this is amazing!
Do not forget to set your stop losses
Look at the yellow line, we have gone past it, which means that now we are fully recovered from the "Corona dump".
What will happen next? I think BTC will fall towards the support at 7413 USD. Why?
The Americans are just waking up, not knowing about this pump. Will they FOMO (like my friend Elvis), jump in, and push BTC to the 8360 resistance or will they take profits and make BTC plunge towards 7413?
Also, we can see a rising wedge being formed on the chart, this usually suggests a reversal. I would suggest waiting for at least two candles being closed over the "yellow line" to confirm the recovery.
It took us 6 weeks to get back to 8k, this is amazing!
Do not forget to set your stop losses