Bitcoin has been showing a breakout last two days however in my opinion the market is still not ready for a final breakout. Bitcoin sees the resistance at 8200 USD however this resistance may be an easy one to break as Bitcoin has been stuck in low price range for a long time now. Stronger resistance will meet us at 9200 USD. In my opinion, we might see a cycle between 12 000 USD and 6000 USD again which should be the final cycle of the correction after which we should see the bulls. So don't fall for the breakout the market is still bearish as we have seen bitcoin on a bull run before and this doesn't remind me of that as the breakout is not strong enough. However there are some indicators such as MACD which shows a breakout possible to happen and Elliot Wave Oscillator which shows a green flag. So, hodlers be patient and watch the resistance, possible profit by shorting your bitcoins between the price resistance however you take a big risk if it breaks the resistances and confirms a bull run. If it falls below the green line it may bounce back from the red downtrend line however if it breaks the green line of what is thought to be the bullish divergence, I would recommend to sell and see if it bounces back from the downtrend line because if it doesn't then it joins the downtrend channel again where the buy back would desirably be 4600-5200 USD!
Bitcoin is the future of currencies, we might see the price dropping below what we expected, however the bull run will be there and there will be hands full of opportunities!
Bitcoin is the future of currencies, we might see the price dropping below what we expected, however the bull run will be there and there will be hands full of opportunities!