Bitcoin : Bull Flag Creation - A chance to see a light.

2019年1月8日

Bitcoin has been in consolidation during the holiday weeks and showed some improvement by the end of the weekend. And it showed a good uprise and is now testing its resistance and support levels. We might see bearish influence downwards upto 3850-3900 USD area and if bears can continue pentrating and broke the resistance we might see another leg down movement in the following week. But if Bulls can hold their strength and can broke the 4150 USD for sure and close above that resistance area around 4200 USD we might see a good upward move. This could also be a good thing for the alts which are not doing totally good for the last 1 month and a half. In the 4H chart both EMA50 and EMA89 are way lower than the price and RSI is at 61 showing a balanced chance for an upward move. If the bull flag creation is going to be confirmed our short to mid term targets given in our earlier call can be achieved very soon.
Good Luck.
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